PIMCO High Income Fund (NYSE:PHK – Get Free Report) shares saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 929,380 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 594,218 shares.The stock last traded at $4.62 and had previously closed at $4.87.
The newly announced dividend which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.048 dividend. This represents a $0.58 annualized dividend and a yield of 12.45%. The ex-dividend date is Friday, April 11th.
PIMCO High Income Fund Price Performance
The firm’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $4.96.
Institutional Trading of PIMCO High Income Fund
Several institutional investors and hedge funds have recently modified their holdings of PHK. Strategic Financial Concepts LLC increased its holdings in PIMCO High Income Fund by 137.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 29,160 shares of the investment management company’s stock worth $142,000 after purchasing an additional 16,860 shares during the period. Moloney Securities Asset Management LLC bought a new position in shares of PIMCO High Income Fund during the 4th quarter worth $95,000. Carnegie Lake Advisors LLC purchased a new position in shares of PIMCO High Income Fund during the fourth quarter valued at $50,000. Apollon Wealth Management LLC raised its holdings in shares of PIMCO High Income Fund by 40.5% in the fourth quarter. Apollon Wealth Management LLC now owns 625,563 shares of the investment management company’s stock valued at $3,040,000 after acquiring an additional 180,297 shares in the last quarter. Finally, Alpha Cubed Investments LLC bought a new stake in shares of PIMCO High Income Fund in the fourth quarter valued at about $93,000. Institutional investors own 11.75% of the company’s stock.
PIMCO High Income Fund Company Profile
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.
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