PIMCO High Income Fund (NYSE:PHK) Stock Passes Above 200-Day Moving Average – Time to Sell?

PIMCO High Income Fund (NYSE:PHK) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.89 and traded as high as $5.00. PIMCO High Income Fund shares last traded at $4.97, with a volume of 524,543 shares changing hands.

PIMCO High Income Fund Trading Up 0.8 %

The business has a 50-day simple moving average of $5.03 and a 200 day simple moving average of $4.89.

PIMCO High Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.048 dividend. This represents a $0.58 annualized dividend and a dividend yield of 11.52%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PHK. Avantax Advisory Services Inc. raised its position in shares of PIMCO High Income Fund by 21.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock worth $69,000 after acquiring an additional 2,500 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of PIMCO High Income Fund in the 1st quarter worth approximately $79,000. Cetera Investment Advisers grew its stake in shares of PIMCO High Income Fund by 307.0% in the 1st quarter. Cetera Investment Advisers now owns 726,061 shares of the investment management company’s stock worth $3,587,000 after buying an additional 547,667 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of PIMCO High Income Fund by 20.0% in the 1st quarter. Cetera Advisors LLC now owns 134,142 shares of the investment management company’s stock worth $663,000 after buying an additional 22,375 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of PIMCO High Income Fund by 4.2% in the 2nd quarter. Park Avenue Securities LLC now owns 275,113 shares of the investment management company’s stock worth $1,326,000 after buying an additional 11,018 shares during the last quarter. Institutional investors own 11.75% of the company’s stock.

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.