Short Interest in PIMCO Access Income Fund (NYSE:PAXS) Increases By 118.2%

PIMCO Access Income Fund (NYSE:PAXS) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 81,605 shares, an increase of 118.2% from the June 30th total of 37,404 shares. Based on an average daily volume of 144,484 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On PIMCO Access Income Fund

A number of hedge funds have recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of 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. Royal Bank of Canada boosted its stake in PIMCO Access Income Fund by 12.5% during the 1st quarter. Royal Bank of Canada now owns 1,152,845 shares of the company’s stock valued at $16,612,000 after purchasing an additional 127,806 shares during the period. Rivernorth Capital Management LLC acquired a new stake in PIMCO Access Income Fund in the 1st quarter valued at approximately $1,362,000. Bank of America Corp DE increased its position in PIMCO Access Income Fund by 21.1% in the 2nd quarter. Bank of America Corp DE now owns 374,892 shares of the company’s stock worth $5,665,000 after buying an additional 65,266 shares during the period. Finally, Jane Street Group LLC bought a new position in PIMCO Access Income Fund in the 4th quarter worth approximately $801,000.

PIMCO Access Income Fund Price Performance

Shares of NYSE PAXS traded up $0.19 during trading hours on Thursday, hitting $14.18. 140,386 shares of the stock were exchanged, compared to its average volume of 209,165. The company’s 50 day moving average is $14.31 and its 200 day moving average is $14.76. PIMCO Access Income Fund has a one year low of $13.74 and a one year high of $16.56.

PIMCO Access Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be given a dividend of $0.1494 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 12.6%.

PIMCO Access Income Fund Company Profile

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.