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

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

Institutional Investors Weigh In On PIMCO High Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Advisory Inc. bought a new position in PIMCO High Income Fund during the 1st quarter valued at about $50,000. Brookstone Capital Management acquired a new stake in shares of PIMCO High Income Fund during the second quarter worth approximately $53,000. E&G Advisors LP bought a new position in shares of PIMCO High Income Fund in the third quarter valued at approximately $54,000. Fortitude Family Office LLC acquired a new position in shares of PIMCO High Income Fund in the 3rd quarter worth approximately $59,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of PIMCO High Income Fund in the 3rd quarter worth approximately $65,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

PIMCO High Income Fund Price Performance

Shares of PIMCO High Income Fund stock remained flat at $5.07 during midday trading on Monday. The company had a trading volume of 476,813 shares, compared to its average volume of 515,672. The firm has a 50 day simple moving average of $4.97 and a 200 day simple moving average of $4.86. PIMCO High Income Fund has a 1-year low of $4.21 and a 1-year high of $5.18.

PIMCO High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.048 per share. The ex-dividend date is Friday, October 11th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.36%.

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.