PIMCO High Income Fund (NYSE:PHK) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of PIMCO High Income Fund (NYSE:PHK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.72 and traded as high as $4.74. PIMCO High Income Fund shares last traded at $4.7150, with a volume of 6,568,628 shares trading hands.

PIMCO High Income Fund Price Performance

The stock’s 50 day moving average price is $4.58 and its two-hundred day moving average price is $4.72.

PIMCO High Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a $0.048 dividend. This represents a c) annualized dividend and a yield of 12.2%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC grew its holdings in PIMCO High Income Fund by 2.5% in the 4th quarter. LPL Financial LLC now owns 1,937,118 shares of the investment management company’s stock valued at $9,414,000 after buying an additional 47,241 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of PIMCO High Income Fund by 32.8% in the fourth quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company’s stock valued at $8,076,000 after acquiring an additional 410,137 shares during the period. UBS Group AG boosted its position in shares of PIMCO High Income Fund by 11.2% in the fourth quarter. UBS Group AG now owns 1,289,048 shares of the investment management company’s stock valued at $6,265,000 after acquiring an additional 130,086 shares during the period. Invesco Ltd. grew its stake in shares of PIMCO High Income Fund by 4.3% in the third quarter. Invesco Ltd. now owns 1,279,467 shares of the investment management company’s stock worth $6,385,000 after acquiring an additional 53,263 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of PIMCO High Income Fund by 4.0% in the first quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company’s stock worth $5,777,000 after acquiring an additional 48,233 shares during the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

PIMCO High Income Fund Company Profile

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.