PIMCO High Income Fund (NYSE:PHK) Sets New 1-Year High After Dividend Announcement

Shares of PIMCO High Income Fund (NYSE:PHK) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $5.04 and last traded at $5.04, with a volume of 720818 shares traded. The stock had previously closed at $5.00.

The newly announced dividend which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be paid a $0.048 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.58 dividend on an annualized basis and a yield of 11.29%.

PIMCO High Income Fund Price Performance

The business’s 50-day moving average is $4.87 and its 200 day moving average is $4.84.

Hedge Funds Weigh In On PIMCO High Income Fund

Several hedge funds have recently made changes to their positions in PHK. Park Avenue Securities LLC lifted its stake in shares of PIMCO High Income Fund by 3.1% in the 3rd quarter. Park Avenue Securities LLC now owns 283,512 shares of the investment management company’s stock valued at $1,418,000 after purchasing an additional 8,399 shares during the period. Creekside Partners purchased a new position in PIMCO High Income Fund during the second quarter valued at $241,000. Founders Financial Alliance LLC boosted its holdings in shares of PIMCO High Income Fund by 37.9% during the 2nd quarter. Founders Financial Alliance LLC now owns 52,091 shares of the investment management company’s stock valued at $251,000 after buying an additional 14,306 shares in the last quarter. Cetera Investment Advisers grew its position in shares of PIMCO High Income Fund by 15.3% in the 2nd quarter. Cetera Investment Advisers now owns 837,359 shares of the investment management company’s stock worth $4,036,000 after buying an additional 111,298 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of PIMCO High Income Fund by 8.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 712,629 shares of the investment management company’s stock worth $3,435,000 after acquiring an additional 53,128 shares in the last quarter. 11.75% of the stock is 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.