PIMCO High Income Fund (NYSE:PHK) Sees Unusually-High Trading Volume After Dividend Announcement

PIMCO High Income Fund (NYSE:PHK) shares saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 929,380 shares traded hands during trading, an increase of 56% from the previous session’s volume of 594,218 shares.The stock last traded at $4.62 and had previously closed at $4.87.

The newly announced dividend which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.048 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.58 dividend on an annualized basis and a yield of 12.45%.

PIMCO High Income Fund Trading Down 5.0 %

The firm has a 50-day simple moving average of $4.90 and a 200 day simple moving average of $4.96.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PHK. LPL Financial LLC grew its stake in shares of PIMCO High Income Fund by 54.3% in the 4th quarter. LPL Financial LLC now owns 1,624,495 shares of the investment management company’s stock worth $7,895,000 after buying an additional 571,384 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of PIMCO High Income Fund by 84.1% in the 4th quarter. Guggenheim Capital LLC now owns 815,826 shares of the investment management company’s stock worth $3,965,000 after buying an additional 372,623 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of PIMCO High Income Fund during the 4th quarter valued at about $1,554,000. Rivernorth Capital Management LLC grew its position in PIMCO High Income Fund by 6.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,939,765 shares of the investment management company’s stock valued at $24,699,000 after buying an additional 301,706 shares during the period. Finally, Benjamin Edwards Inc. bought a new stake in shares of PIMCO High Income Fund during the 3rd quarter valued at $1,419,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.