PCM Fund (NYSE:PCM) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

PCM Fund Inc. (NYSE:PCM)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.81 and traded as low as $6.71. PCM Fund shares last traded at $6.75, with a volume of 87,008 shares trading hands.

PCM Fund Stock Performance

The business’s 50 day simple moving average is $7.85 and its two-hundred day simple moving average is $7.81.

PCM Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be issued a dividend of $0.0642 per share. This represents a $0.77 annualized dividend and a dividend yield of 11.42%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Investors Weigh In On PCM Fund

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

PCM Fund Company Profile

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.