PIMCO High Income Fund (NYSE:PHK) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

PIMCO High Income Fund (NYSE:PHK) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.88 and traded as high as $5.00. PIMCO High Income Fund shares last traded at $4.95, with a volume of 1,345,439 shares traded.

PIMCO High Income Fund Price Performance

The company has a 50-day moving average of $4.87 and a 200-day moving average of $4.88.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Tuesday, January 13th will be paid a $0.048 dividend. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a c) dividend on an annualized basis and a yield of 11.6%.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in PIMCO High Income Fund in the 2nd quarter worth $1,798,000. Presper Financial Architects LLC acquired a new stake in shares of PIMCO High Income Fund in the 2nd quarter valued at about $539,000. PFG Investments LLC lifted its holdings in shares of PIMCO High Income Fund by 26.5% in the second quarter. PFG Investments LLC now owns 82,244 shares of the investment management company’s stock valued at $395,000 after purchasing an additional 17,219 shares in the last quarter. Future Financial Wealth Managment LLC boosted its position in shares of PIMCO High Income Fund by 1,231.0% during the second quarter. Future Financial Wealth Managment LLC now owns 133,102 shares of the investment management company’s stock worth $639,000 after buying an additional 123,102 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of PIMCO High Income Fund by 79.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 24,800 shares of the investment management company’s stock worth $119,000 after buying an additional 11,000 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About PIMCO High Income Fund

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.