PIMCO High Income Fund (NYSE:PHK) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

PIMCO High Income Fund (NYSE:PHK) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.93 and traded as high as $4.93. PIMCO High Income Fund shares last traded at $4.88, with a volume of 716,014 shares changing hands.

PIMCO High Income Fund Trading Up 0.3 %

The stock has a fifty day moving average price of $4.95 and a two-hundred day moving average price of $4.93.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be issued a $0.048 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.74%. The ex-dividend date is Monday, January 13th.

Hedge Funds Weigh In On PIMCO High Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC raised its stake in PIMCO High Income Fund by 82.4% during the third quarter. Apollon Wealth Management LLC now owns 445,266 shares of the investment management company’s stock worth $2,226,000 after buying an additional 201,196 shares during the last quarter. Marks Group Wealth Management Inc bought a new position in shares of PIMCO High Income Fund in the 3rd quarter worth about $1,403,000. International Assets Investment Management LLC lifted its stake in shares of PIMCO High Income Fund by 400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 53,500 shares of the investment management company’s stock valued at $268,000 after purchasing an additional 42,800 shares during the period. PFG Investments LLC lifted its position in shares of PIMCO High Income Fund by 3.8% during the 3rd quarter. PFG Investments LLC now owns 63,369 shares of the investment management company’s stock valued at $317,000 after acquiring an additional 2,310 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of PIMCO High Income Fund during the third quarter worth approximately $59,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About PIMCO High Income Fund

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.