PIMCO High Income Fund (NYSE:PHK) Sees Strong Trading Volume

Shares of PIMCO High Income Fund (NYSE:PHK) saw strong trading volume on Tuesday . 245,229 shares were traded during trading, a decline of 49% from the previous session’s volume of 485,314 shares.The stock last traded at $4.61 and had previously closed at $4.63.

PIMCO High Income Fund Stock Performance

The stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $4.75.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, April 11th will be issued a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a yield of 12.22%. The ex-dividend date of this dividend is Wednesday, April 10th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PHK. Morgan Stanley raised its position in shares of PIMCO High Income Fund by 91.3% during the fourth quarter. Morgan Stanley now owns 1,172,498 shares of the investment management company’s stock valued at $5,546,000 after buying an additional 559,537 shares during the last quarter. Bank of America Corp DE raised its position in shares of PIMCO High Income Fund by 119.0% during the first quarter. Bank of America Corp DE now owns 695,363 shares of the investment management company’s stock valued at $4,019,000 after buying an additional 377,903 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of PIMCO High Income Fund by 2,878.9% during the third quarter. Avantax Advisory Services Inc. now owns 311,687 shares of the investment management company’s stock valued at $1,378,000 after buying an additional 301,224 shares during the last quarter. Millennium Management LLC raised its position in shares of PIMCO High Income Fund by 524.1% during the fourth quarter. Millennium Management LLC now owns 302,834 shares of the investment management company’s stock valued at $1,432,000 after buying an additional 254,311 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of PIMCO High Income Fund during the fourth quarter valued at about $1,147,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.