Short Interest in PCM Fund Inc. (NYSE:PCM) Increases By 363.4%

PCM Fund Inc. (NYSE:PCMGet Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 19,000 shares, an increase of 363.4% from the May 15th total of 4,100 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 50,700 shares, the short-interest ratio is presently 0.4 days.

PCM Fund Trading Down 1.6%

PCM Fund stock opened at $6.26 on Friday. The business’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.71. PCM Fund has a 12-month low of $5.88 and a 12-month high of $8.39.

PCM Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be paid a $0.0642 dividend. This represents a $0.77 annualized dividend and a yield of 12.31%. The ex-dividend date of this dividend is Thursday, June 12th.

Hedge Funds Weigh In On PCM Fund

Hedge funds have recently added to or reduced their stakes in the stock. Sovran Advisors LLC acquired a new position in PCM Fund in the fourth quarter valued at about $443,000. Raymond James Financial Inc. acquired a new position in PCM Fund in the fourth quarter valued at about $137,000. Two Sigma Securities LLC acquired a new position in PCM Fund in the fourth quarter valued at about $152,000. Ieq Capital LLC acquired a new position in PCM Fund in the first quarter valued at about $591,000. Finally, Landscape Capital Management L.L.C. acquired a new position in PCM Fund in the first quarter valued at about $1,565,000. Institutional investors and hedge funds own 10.26% of the company’s stock.

PCM Fund Company Profile

(Get Free Report)

PCM Fund Inc 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 seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.

Recommended Stories

Receive News & Ratings for PCM Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PCM Fund and related companies with MarketBeat.com's FREE daily email newsletter.