PIMCO High Income Fund (NYSE:PHK) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

PIMCO High Income Fund (NYSE:PHK)’s share price 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 traded.

PIMCO High Income Fund Stock Performance

The stock has a 50-day moving average of $4.95 and a two-hundred day moving average of $4.93.

PIMCO High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a dividend of $0.048 per share. The ex-dividend date is Monday, January 13th. This represents a $0.58 dividend on an annualized basis and a yield of 11.82%.

Hedge Funds Weigh In On PIMCO High Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Capital Management Inc. lifted its stake in PIMCO High Income Fund by 3.4% during the 3rd quarter. Integrated Capital Management Inc. now owns 61,355 shares of the investment management company’s stock valued at $307,000 after acquiring an additional 2,031 shares during the period. PFG Investments LLC increased its stake in shares of PIMCO High Income Fund by 3.8% in the 3rd quarter. PFG Investments LLC now owns 63,369 shares of the investment management company’s stock worth $317,000 after purchasing an additional 2,310 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in PIMCO High Income Fund in the fourth quarter worth about $36,000. Park Avenue Securities LLC raised its stake in PIMCO High Income Fund by 3.1% during the 3rd quarter. Park Avenue Securities LLC now owns 283,512 shares of the investment management company’s stock worth $1,418,000 after acquiring an additional 8,399 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of PIMCO High Income Fund by 11.3% during the 3rd 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 period. 11.75% of the stock is owned by institutional investors.

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.