Raymond James Financial Inc. Takes Position in PCM Fund Inc. (NYSE:PCM)

Raymond James Financial Inc. acquired a new stake in PCM Fund Inc. (NYSE:PCM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,803 shares of the investment management company’s stock, valued at approximately $137,000.

Separately, Financial Advocates Investment Management raised its position in shares of PCM Fund by 10.8% in the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock valued at $1,662,000 after purchasing an additional 20,950 shares during the period. Hedge funds and other institutional investors own 10.26% of the company’s stock.

PCM Fund Price Performance

Shares of PCM opened at $6.28 on Wednesday. The company’s 50-day moving average is $6.30 and its 200-day moving average is $6.99. PCM Fund Inc. has a fifty-two week low of $5.88 and a fifty-two week high of $9.15.

PCM Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a dividend of $0.0642 per share. This represents a $0.77 dividend on an annualized basis and a yield of 12.28%. The ex-dividend date is Monday, May 12th.

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.