PCM Fund (NYSE:PCM) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

PCM Fund Inc. (NYSE:PCM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.86 and traded as low as $7.68. PCM Fund shares last traded at $7.71, with a volume of 23,523 shares trading hands.

PCM Fund Price Performance

The stock has a 50-day simple moving average of $8.06 and a 200-day simple moving average of $7.86.

PCM Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 12.45%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PCM Fund stock. Horizon Kinetics Asset Management LLC increased its position in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,252 shares of the investment management company’s stock after acquiring an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.34% of PCM Fund worth $322,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 10.26% of the company’s stock.

About PCM Fund

PCM Fund Inc 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 seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.