Short Interest in PIMCO Access Income Fund (NYSE:PAXS) Increases By 149.4%

PIMCO Access Income Fund (NYSE:PAXS) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 252,100 shares, a growth of 149.4% from the June 30th total of 101,100 shares. Based on an average daily trading volume, of 152,900 shares, the days-to-cover ratio is presently 1.6 days.

Hedge Funds Weigh In On PIMCO Access Income Fund

A number of institutional investors have recently added to or reduced their stakes in PAXS. SOL Capital Management CO increased its position in PIMCO Access Income Fund by 24.1% during the 1st quarter. SOL Capital Management CO now owns 802,354 shares of the company’s stock worth $12,621,000 after purchasing an additional 155,648 shares in the last quarter. Wells Fargo & Company MN increased its position in PIMCO Access Income Fund by 39.5% during the 4th quarter. Wells Fargo & Company MN now owns 536,525 shares of the company’s stock worth $7,672,000 after purchasing an additional 151,965 shares in the last quarter. PFG Investments LLC acquired a new position in PIMCO Access Income Fund during the 1st quarter worth approximately $1,317,000. LM Advisors LLC acquired a new position in PIMCO Access Income Fund during the 4th quarter worth approximately $736,000. Finally, Choreo LLC acquired a new position in PIMCO Access Income Fund during the 1st quarter worth approximately $507,000.

PIMCO Access Income Fund Price Performance

Shares of NYSE:PAXS traded down $0.11 during midday trading on Friday, hitting $15.25. The stock had a trading volume of 145,117 shares, compared to its average volume of 174,929. The company’s 50-day moving average price is $15.72 and its 200-day moving average price is $15.43. PIMCO Access Income Fund has a fifty-two week low of $12.57 and a fifty-two week high of $16.30.

PIMCO Access Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 11th will be given a $0.1494 dividend. The ex-dividend date is Thursday, July 11th. This is a boost from PIMCO Access Income Fund’s previous monthly dividend of $0.15. This represents a $1.79 annualized dividend and a dividend yield of 11.76%.

About PIMCO Access Income Fund

PIMCO Access Income Fund is close-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in fixed income markets of global region. The fund primarily invests in corporate debt, mortgage-related and other asset-backed instruments, government and sovereign debt, taxable municipal bonds, floating-rate income-producing securities with varying maturities.