Short Interest in PIMCO High Income Fund (NYSE:PHK) Expands By 170.9%

PIMCO High Income Fund (NYSE:PHK) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 204,800 shares, a growth of 170.9% from the September 30th total of 75,600 shares. Based on an average daily trading volume, of 568,700 shares, the days-to-cover ratio is presently 0.4 days.

PIMCO High Income Fund Stock Performance

Shares of NYSE:PHK opened at $5.07 on Friday. The firm’s 50 day simple moving average is $4.97 and its 200 day simple moving average is $4.86. PIMCO High Income Fund has a fifty-two week low of $4.15 and a fifty-two week high of $5.18.

PIMCO High Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a $0.048 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.58 annualized dividend and a yield of 11.37%.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PHK. Cornerstone Wealth Group LLC bought a new position in PIMCO High Income Fund during the first quarter worth about $123,000. Avantax Advisory Services Inc. lifted its holdings in shares of PIMCO High Income Fund by 21.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock valued at $69,000 after purchasing an additional 2,500 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $50,000. Kingsview Wealth Management LLC grew its position in shares of PIMCO High Income Fund by 3.0% in the 1st quarter. Kingsview Wealth Management LLC now owns 94,349 shares of the investment management company’s stock valued at $466,000 after purchasing an additional 2,775 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in PIMCO High Income Fund during the 1st quarter worth approximately $79,000. 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.