Janney Montgomery Scott LLC Lowers Stock Position in PCM Fund Inc. (NYSE:PCM)

Janney Montgomery Scott LLC lessened its holdings in shares of PCM Fund Inc. (NYSE:PCM) by 10.5% during the 4th quarter, Holdings Channel reports. The firm owned 24,290 shares of the investment management company’s stock after selling 2,859 shares during the period. Janney Montgomery Scott LLC’s holdings in PCM Fund were worth $187,000 at the end of the most recent reporting period.

Separately, Horizon Kinetics Asset Management LLC raised its stake in PCM Fund by 64.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock valued at $322,000 after purchasing an additional 15,720 shares during the period. Institutional investors own 10.26% of the company’s stock.

PCM Fund Price Performance

Shares of PCM opened at $6.70 on Friday. The business’s 50 day moving average is $7.17 and its 200 day moving average is $7.66. PCM Fund Inc. has a 12-month low of $6.50 and a 12-month high of $9.15.

PCM Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be paid a dividend of $0.0642 per share. This represents a $0.77 annualized dividend and a yield of 11.51%. The ex-dividend date is Thursday, February 13th.

PCM Fund 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.