Short Interest in PIMCO High Income Fund (NYSE:PHK) Expands By 98.1%

PIMCO High Income Fund (NYSE:PHK) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 656,459 shares, a growth of 98.1% from the June 30th total of 331,309 shares. Based on an average trading volume of 925,256 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Trading of PIMCO High Income Fund

Large investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in shares of PIMCO High Income Fund by 31,295.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company’s stock worth $31,000 after buying an additional 6,259 shares during the period. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund in the 2nd quarter worth about $48,000. Bank of New York Mellon Corp acquired a new stake in PIMCO High Income Fund during the 1st quarter worth about $50,000. Glenview Trust Co purchased a new position in PIMCO High Income Fund during the 4th quarter valued at about $63,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in PIMCO High Income Fund during the 2nd quarter valued at about $72,000. 11.75% of the stock is owned by institutional investors and hedge funds.

PIMCO High Income Fund Trading Up 1.2%

PHK traded up $0.06 during trading on Thursday, reaching $4.64. The company had a trading volume of 445,700 shares, compared to its average volume of 1,145,751. The firm’s 50-day simple moving average is $4.60 and its 200 day simple moving average is $4.70. PIMCO High Income Fund has a 12-month low of $4.41 and a 12-month high of $5.04.

PIMCO High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a $0.048 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 12.4%.

About PIMCO High Income Fund

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.