Pcm Fund (NYSE:PCM) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Pcm Fund (NYSE:PCM) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.87 and traded as low as $5.51. Pcm Fund shares last traded at $5.54, with a volume of 60,181 shares.

Pcm Fund Trading Up 0.4%

The firm’s fifty day moving average price is $5.68 and its two-hundred day moving average price is $5.87.

Pcm Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a $0.0642 dividend. This represents a c) dividend on an annualized basis and a yield of 13.9%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On Pcm Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC grew its holdings in shares of Pcm Fund by 59.3% in the first quarter. Rivernorth Capital Management LLC now owns 479,504 shares of the investment management company’s stock worth $2,738,000 after acquiring an additional 178,434 shares during the period. LPL Financial LLC lifted its holdings in Pcm Fund by 6.7% in the fourth quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock valued at $1,894,000 after acquiring an additional 19,364 shares during the period. Guggenheim Capital LLC lifted its holdings in Pcm Fund by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock valued at $1,779,000 after acquiring an additional 72,482 shares during the period. Arlington Capital Management Inc. purchased a new position in Pcm Fund in the first quarter worth about $328,000. Finally, Kestra Advisory Services LLC boosted its position in Pcm Fund by 65.2% in the fourth quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock worth $213,000 after purchasing an additional 13,667 shares during the last quarter. 10.26% of the stock is owned by institutional investors.

About Pcm Fund

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.