Short Interest in PCM Fund Inc. (NYSE:PCM) Declines By 21.4%

PCM Fund Inc. (NYSE:PCM) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 27,200 shares, a drop of 21.4% from the December 15th total of 34,600 shares. Based on an average trading volume of 52,300 shares, the days-to-cover ratio is presently 0.5 days.

PCM Fund Stock Down 0.1 %

Shares of NYSE PCM traded down $0.01 during trading hours on Friday, reaching $6.71. The stock had a trading volume of 59,241 shares, compared to its average volume of 137,486. PCM Fund has a 52-week low of $6.50 and a 52-week high of $9.15. The business’s fifty day moving average price is $7.70 and its two-hundred day moving average price is $7.78.

PCM Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a dividend of $0.0642 per share. The ex-dividend date is Monday, January 13th. This represents a $0.77 annualized dividend and a dividend yield of 11.50%.

Institutional Trading of PCM Fund

A hedge fund recently raised its stake in PCM Fund stock. Horizon Kinetics Asset Management LLC lifted its holdings in PCM Fund Inc. (NYSE:PCM) by 64.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 40,252 shares of the investment management company’s stock after purchasing an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.34% of PCM Fund worth $322,000 at the end of the most recent quarter. 10.26% of the stock is owned by institutional investors.

PCM Fund Company Profile

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.