PIMCO High Income Fund (NYSE:PHK) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

PIMCO High Income Fund (NYSE:PHK)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.87 and traded as high as $5.05. PIMCO High Income Fund shares last traded at $5.04, with a volume of 421,666 shares.

PIMCO High Income Fund Price Performance

The business has a 50-day moving average price of $4.99 and a 200-day moving average price of $4.87.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.048 dividend. This represents a $0.58 annualized dividend and a yield of 11.44%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. grew its holdings in shares of PIMCO High Income Fund by 21.6% in the first quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock valued at $69,000 after purchasing an additional 2,500 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $50,000. Kingsview Wealth Management LLC increased its holdings in shares of PIMCO High Income Fund by 3.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 94,349 shares of the investment management company’s stock worth $466,000 after buying an additional 2,775 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in PIMCO High Income Fund in the first quarter valued at approximately $79,000. Finally, Cetera Investment Advisers grew its position in PIMCO High Income Fund by 307.0% in the first quarter. Cetera Investment Advisers now owns 726,061 shares of the investment management company’s stock worth $3,587,000 after acquiring an additional 547,667 shares during the period. Hedge funds and other institutional investors 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.