PCM Fund (NYSE:PCM) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

PCM Fund Inc. (NYSE:PCM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.81 and traded as low as $6.71. PCM Fund shares last traded at $6.75, with a volume of 87,008 shares changing hands.

PCM Fund Price Performance

The company has a 50-day moving average price of $7.82 and a 200 day moving average price of $7.81.

PCM Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be issued a $0.0642 dividend. This represents a $0.77 annualized dividend and a dividend yield of 11.42%. The ex-dividend date is Monday, January 13th.

Institutional Trading of PCM Fund

A hedge fund recently raised its stake in PCM Fund stock. Horizon Kinetics Asset Management LLC increased its position in PCM Fund Inc. (NYSE:PCM) by 64.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,252 shares of the investment management company’s stock after buying an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned 0.34% of PCM Fund worth $322,000 at the end of the most recent quarter. Institutional investors own 10.26% of the company’s stock.

PCM Fund Company Profile

PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.