Short Interest in PIMCO Access Income Fund (NYSE:PAXS) Grows By 934.6%

PIMCO Access Income Fund (NYSE:PAXS) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 254,500 shares, an increase of 934.6% from the August 31st total of 24,600 shares. Based on an average trading volume of 180,500 shares, the days-to-cover ratio is currently 1.4 days.

PIMCO Access Income Fund Stock Performance

PAXS traded down $0.18 during trading on Wednesday, hitting $16.43. 192,850 shares of the company’s stock were exchanged, compared to its average volume of 173,734. The business’s 50 day moving average is $15.73 and its two-hundred day moving average is $15.68. PIMCO Access Income Fund has a fifty-two week low of $12.57 and a fifty-two week high of $16.69.

PIMCO Access Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.1494 per share. The ex-dividend date is Friday, September 13th. This is a positive change from PIMCO Access Income Fund’s previous monthly dividend of $0.15. This represents a $1.79 annualized dividend and a yield of 10.92%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Creekmur Asset Management LLC purchased a new stake in shares of PIMCO Access Income Fund in the 4th quarter worth about $27,000. Capital Investment Advisors LLC raised its stake in PIMCO Access Income Fund by 22.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 16,300 shares of the company’s stock worth $258,000 after acquiring an additional 3,000 shares during the period. Belpointe Asset Management LLC purchased a new stake in PIMCO Access Income Fund during the 4th quarter valued at approximately $147,000. Prudent Investors Network Inc. purchased a new stake in PIMCO Access Income Fund during the 1st quarter valued at approximately $249,000. Finally, Choreo LLC grew its holdings in shares of PIMCO Access Income Fund by 52.7% in the second quarter. Choreo LLC now owns 49,277 shares of the company’s stock valued at $782,000 after purchasing an additional 17,014 shares in the last quarter.

PIMCO Access Income Fund Company Profile

PIMCO Access Income Fund is close-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in fixed income markets of global region. The fund primarily invests in corporate debt, mortgage-related and other asset-backed instruments, government and sovereign debt, taxable municipal bonds, floating-rate income-producing securities with varying maturities.