PCM Fund (NYSE:PCM) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of PCM Fund Inc. (NYSE:PCM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.61 and traded as low as $6.55. PCM Fund shares last traded at $6.56, with a volume of 40,930 shares trading hands.

PCM Fund Price Performance

The stock’s fifty day moving average price is $6.98 and its two-hundred day moving average price is $7.61.

PCM Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be paid a $0.0642 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.77 annualized dividend and a yield of 11.76%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sovran Advisors LLC purchased a new stake in shares of PCM Fund during the fourth quarter worth approximately $443,000. Financial Advocates Investment Management grew its holdings in shares of PCM Fund by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after acquiring an additional 20,950 shares during the period. Two Sigma Securities LLC acquired a new position in PCM Fund during the fourth quarter worth $152,000. Raymond James Financial Inc. purchased a new stake in shares of PCM Fund in the fourth quarter valued at about $137,000. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of PCM Fund by 64.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock worth $322,000 after purchasing an additional 15,720 shares during the last quarter. 10.26% of the stock is owned by hedge funds and other institutional investors.

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.