PIMCO Dynamic Income Fund (NYSE:PDI) Stock Short Interest Drops 72.0%

PIMCO Dynamic Income Fund (NYSE:PDI) was the target of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 293,593 shares, a decrease of 72.0% from the October 15th total of 1,048,214 shares. Based on an average trading volume of 2,751,420 shares, the short-interest ratio is currently 0.1 days.

PIMCO Dynamic Income Fund Stock Performance

NYSE:PDI traded down $0.12 during mid-day trading on Friday, hitting $14.22. 3,546,874 shares of the stock were exchanged, compared to its average volume of 3,143,497. The firm’s 50-day simple moving average is $14.41 and its 200 day simple moving average is $16.33. PIMCO Dynamic Income Fund has a fifty-two week low of $13.73 and a fifty-two week high of $19.00.

PIMCO Dynamic Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.2205 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 18.6%. The ex-dividend date is Friday, November 13th.

Insider Activity at PIMCO Dynamic Income Fund

In related news, Director Alan Rappaport acquired 5,500 shares of PIMCO Dynamic Income Fund stock in a transaction on Thursday, September 24th. The stock was purchased at an average cost of $13.76 per share, with a total value of $75,680.00. Following the completion of the transaction, the director directly owned 9,313 shares in the company, valued at $128,146.88. This trade represents a 144.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sonya Morris acquired 5,700 shares of PIMCO Dynamic Income Fund stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $14.32 per share, with a total value of $81,624.00. Following the completion of the transaction, the director owned 11,400 shares of the company’s stock, valued at approximately $163,248. This trade represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 34,348 shares of company stock worth $486,724.

Hedge Funds Weigh In On PIMCO Dynamic Income Fund

A number of hedge funds have recently added to or reduced their stakes in PDI. Allied Private Wealth LLC bought a new position in shares of PIMCO Dynamic Income Fund in the second quarter worth $30,000. CX Institutional acquired a new position in PIMCO Dynamic Income Fund in the third quarter valued at about $46,000. Versant Capital Management Inc acquired a new position in PIMCO Dynamic Income Fund in the third quarter valued at about $88,000. Advisors Asset Management Inc. bought a new stake in PIMCO Dynamic Income Fund during the third quarter worth about $140,000. Finally, Fiscal Wisdom Wealth Management LLC bought a new stake in PIMCO Dynamic Income Fund during the third quarter worth about $141,000.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide current income as its primary objective and capital appreciation as a secondary objective. PDI invests in a diversified portfolio of income-generating securities across global fixed-income markets. Its investments may include corporate debt, high-yield bonds, emerging-market securities, mortgage-related instruments, asset-backed securities, and other debt obligations.