PIMCO High Income Fund (NYSE:PHK) Sees Unusually-High Trading Volume Following Dividend Announcement

PIMCO High Income Fund (NYSE:PHK) shares saw an uptick in trading volume on Monday following a dividend announcement from the company. 403,633 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 662,054 shares.The stock last traded at $4.8750 and had previously closed at $4.86.

The newly announced dividend which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th will be issued a dividend of $0.048 per share. This represents a c) dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Thursday, December 11th.

PIMCO High Income Fund Stock Performance

The stock has a 50 day moving average of $4.87 and a 200-day moving average of $4.86.

Institutional Trading of PIMCO High Income Fund

Several hedge funds have recently bought and sold shares of the stock. PFG Investments LLC lifted its stake in shares of PIMCO High Income Fund by 26.5% during the 2nd quarter. PFG Investments LLC now owns 82,244 shares of the investment management company’s stock worth $395,000 after purchasing an additional 17,219 shares during the last quarter. Future Financial Wealth Managment LLC increased its holdings in shares of PIMCO High Income Fund by 1,231.0% during the 2nd quarter. Future Financial Wealth Managment LLC now owns 133,102 shares of the investment management company’s stock valued at $639,000 after purchasing an additional 123,102 shares in the last quarter. Presper Financial Architects LLC acquired a new stake in shares of PIMCO High Income Fund during the 2nd quarter valued at about $539,000. Park Avenue Securities LLC purchased a new stake in PIMCO High Income Fund in the 2nd quarter worth $1,798,000. Finally, Integrity Alliance LLC. acquired a new position in shares of PIMCO High Income Fund during the first quarter valued at approximately $163,000. Hedge funds and other 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.