Short Interest in PIMCO High Income Fund (NYSE:PHK) Increases By 70.7%

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 146,300 shares, a growth of 70.7% from the February 28th total of 85,700 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 692,100 shares, the short-interest ratio is presently 0.2 days.

PIMCO High Income Fund Trading Down 0.6 %

Shares of NYSE:PHK traded down $0.03 during mid-day trading on Friday, reaching $4.87. The company had a trading volume of 438,183 shares, compared to its average volume of 585,103. PIMCO High Income Fund has a one year low of $4.59 and a one year high of $5.18. The company’s 50-day moving average price is $4.91 and its 200-day moving average price is $4.96.

PIMCO High Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a $0.048 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.58 annualized dividend and a dividend yield of 11.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in PIMCO High Income Fund by 11.3% during the third quarter. Thrivent Financial for Lutherans now owns 103,000 shares of the investment management company’s stock valued at $515,000 after purchasing an additional 10,489 shares during the last quarter. Centric Wealth Management purchased a new stake in shares of PIMCO High Income Fund during the 3rd quarter valued at approximately $106,000. Benjamin Edwards Inc. purchased a new stake in shares of PIMCO High Income Fund during the 3rd quarter valued at approximately $1,419,000. HighTower Advisors LLC bought a new position in PIMCO High Income Fund in the 3rd quarter worth approximately $75,000. Finally, Rivernorth Capital Management LLC grew its stake in PIMCO High Income Fund by 5.2% in the 3rd quarter. Rivernorth Capital Management LLC now owns 4,881,118 shares of the investment management company’s stock valued at $24,406,000 after buying an additional 243,059 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

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.