PIMCO High Income Fund (NYSE:PHK) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

PIMCO High Income Fund (NYSE:PHK) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.85 and traded as high as $5.09. PIMCO High Income Fund shares last traded at $5.04, with a volume of 572,958 shares trading hands.

PIMCO High Income Fund Trading Up 0.4 %

The firm has a fifty day simple moving average of $4.93 and a 200-day simple moving average of $4.85.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a $0.048 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.38%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in shares of PIMCO High Income Fund in the 4th quarter worth approximately $104,000. Integrated Capital Management Inc. boosted its holdings in PIMCO High Income Fund by 9.5% in the first quarter. Integrated Capital Management Inc. now owns 44,631 shares of the investment management company’s stock worth $220,000 after purchasing an additional 3,866 shares during the period. Cornerstone Wealth Group LLC bought a new stake in PIMCO High Income Fund during the first quarter valued at $123,000. Avantax Advisory Services Inc. increased its stake in PIMCO High Income Fund by 21.6% during the first quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock valued at $69,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new stake in shares of PIMCO High Income Fund during the first quarter worth $50,000. Institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.