PCM Fund (NYSE:PCM) Stock Price Passes Below 200 Day Moving Average of $8.13

PCM Fund Inc. (NYSE:PCM) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.13 and traded as low as $7.60. PCM Fund shares last traded at $7.61, with a volume of 81,266 shares.

PCM Fund Stock Down 1.8 %

The company has a 50 day moving average of $7.63 and a 200-day moving average of $8.13.

PCM Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.61%.

Hedge Funds Weigh In On PCM Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PCM. Focus Financial Network Inc. ADV bought a new stake in PCM Fund in the fourth quarter valued at $84,000. Concord Investment Counsel Inc. purchased a new stake in shares of PCM Fund in the 1st quarter worth about $1,121,000. Financial Advocates Investment Management boosted its stake in shares of PCM Fund by 19.7% during the 4th quarter. Financial Advocates Investment Management now owns 152,553 shares of the investment management company’s stock valued at $1,214,000 after purchasing an additional 25,109 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of PCM Fund by 18.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 364,632 shares of the investment management company’s stock valued at $2,943,000 after buying an additional 55,772 shares during the period. Institutional investors own 10.26% of the company’s stock.

About PCM Fund

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.