PIMCO High Income Fund (NYSE:PHK) Reaches New 1-Year Low – Time to Sell?

PIMCO High Income Fund (NYSE:PHK)’s share price hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $4.56 and last traded at $4.63, with a volume of 4091950 shares. The stock had previously closed at $4.87.

PIMCO High Income Fund Stock Performance

The stock’s 50-day moving average is $4.90 and its 200-day moving average is $4.96.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.048 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.58 annualized dividend and a yield of 12.45%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PHK. Sugar Maple Asset Management LLC acquired a new stake in PIMCO High Income Fund during the fourth quarter worth about $36,000. Carnegie Lake Advisors LLC bought a new stake in shares of PIMCO High Income Fund in the 4th quarter worth approximately $50,000. CreativeOne Wealth LLC bought a new stake in shares of PIMCO High Income Fund in the 4th quarter worth approximately $53,000. Anfield Capital Management LLC acquired a new stake in shares of PIMCO High Income Fund during the 4th quarter worth approximately $55,000. Finally, XTX Topco Ltd bought a new stake in shares of PIMCO High Income Fund during the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

About PIMCO High Income Fund

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.