PIMCO Access Income Fund (NYSE:PAXS) Sees Significant Drop in Short Interest

PIMCO Access Income Fund (NYSE:PAXS) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 38,509 shares, a decrease of 42.9% from the May 14th total of 67,483 shares. Based on an average trading volume of 204,858 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On PIMCO Access Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PAXS. Wells Fargo & Company MN grew its stake in PIMCO Access Income Fund by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,768,979 shares of the company’s stock worth $27,065,000 after purchasing an additional 51,523 shares during the period. SOL Capital Management CO grew its stake in PIMCO Access Income Fund by 2.8% in the fourth quarter. SOL Capital Management CO now owns 1,471,674 shares of the company’s stock worth $22,517,000 after purchasing an additional 39,829 shares during the period. Royal Bank of Canada grew its stake in PIMCO Access Income Fund by 12.5% in the first quarter. Royal Bank of Canada now owns 1,152,845 shares of the company’s stock worth $16,612,000 after purchasing an additional 127,806 shares during the period. Cohen & Steers Inc. grew its stake in PIMCO Access Income Fund by 4.2% in the fourth quarter. Cohen & Steers Inc. now owns 911,766 shares of the company’s stock worth $13,950,000 after purchasing an additional 36,392 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. grew its stake in PIMCO Access Income Fund by 55.3% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 747,910 shares of the company’s stock worth $11,443,000 after purchasing an additional 266,473 shares during the period.

PIMCO Access Income Fund Stock Performance

Shares of PIMCO Access Income Fund stock opened at $14.10 on Friday. The business has a 50 day moving average of $14.38 and a 200 day moving average of $15.06. PIMCO Access Income Fund has a 52 week low of $13.74 and a 52 week high of $16.56.

PIMCO Access Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be issued a dividend of $0.1494 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Thursday, June 11th.

About PIMCO Access Income Fund

The PIMCO Access Income Fund (NYSE:PAXS) is an actively managed, closed-end management investment company sponsored by Pacific Investment Management Company LLC (“PIMCO”). The fund seeks to provide current income, with a secondary objective of capital appreciation, by investing primarily in a diversified portfolio of global fixed income and income-related securities.

PAXS employs a broad credit strategy that spans corporate debt, structured finance instruments and emerging market debt.