PCM Fund Inc. (NYSE:PCM) Sees Significant Increase in Short Interest

PCM Fund Inc. (NYSE:PCM) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 12,600 shares, an increase of 44.8% from the February 13th total of 8,700 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 74,200 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On PCM Fund

Several large investors have recently made changes to their positions in PCM. Financial Advocates Investment Management grew its stake in shares of PCM Fund by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after buying an additional 20,950 shares during the last quarter. Sovran Advisors LLC bought a new stake in PCM Fund in the fourth quarter worth $443,000. Horizon Kinetics Asset Management LLC grew its stake in shares of PCM Fund by 64.1% in the third quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock worth $322,000 after acquiring an additional 15,720 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of PCM Fund in the 4th quarter worth about $152,000. Finally, Raymond James Financial Inc. bought a new position in PCM Fund in the 4th quarter worth about $137,000. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

PCM Fund Price Performance

Shares of PCM Fund stock opened at $6.47 on Tuesday. The business has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $7.49. PCM Fund has a 12 month low of $6.37 and a 12 month high of $9.15.

PCM Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a dividend of $0.0642 per share. This represents a $0.77 annualized dividend and a yield of 11.92%. The ex-dividend date of this dividend is Thursday, March 13th.

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.