PIMCO High Income Fund (NYSE:PHK) Sees Strong Trading Volume After Dividend Announcement

Shares of PIMCO High Income Fund (NYSE:PHK) saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 929,380 shares changed hands during trading, an increase of 56% from the previous session’s volume of 594,218 shares.The stock last traded at $4.62 and had previously closed at $4.87.

The newly announced dividend which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.048 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 12.45%. The ex-dividend date of this dividend is Friday, April 11th.

PIMCO High Income Fund Trading Down 5.0 %

The firm has a 50-day simple moving average of $4.90 and a 200-day simple moving average of $4.96.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in PIMCO High Income Fund in the fourth quarter worth about $88,000. Elequin Capital LP purchased a new position in shares of PIMCO High Income Fund in the 4th quarter worth approximately $93,000. Millennium Management LLC raised its stake in shares of PIMCO High Income Fund by 8.9% during the 4th quarter. Millennium Management LLC now owns 152,512 shares of the investment management company’s stock worth $741,000 after acquiring an additional 12,482 shares in the last quarter. Citadel Advisors LLC purchased a new stake in PIMCO High Income Fund during the fourth quarter valued at approximately $108,000. Finally, Bank of America Corp DE boosted its stake in PIMCO High Income Fund by 7.1% in the fourth quarter. Bank of America Corp DE now owns 1,290,578 shares of the investment management company’s stock valued at $6,272,000 after acquiring an additional 85,312 shares in the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

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.