PIMCO High Income Fund (NYSE:PHK) Shares Pass 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 Monday . The stock has a 200-day moving average of $4.85 and traded as high as $5.09. PIMCO High Income Fund shares last traded at $5.04, with a volume of 572,958 shares.

PIMCO High Income Fund Trading Down 0.8 %

The company has a fifty day moving average price of $4.92 and a two-hundred day moving average price of $4.85.

PIMCO High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a $0.048 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 11.43%. The ex-dividend date is Friday, October 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. acquired a new position in PIMCO High Income Fund during the first quarter worth $50,000. Brookstone Capital Management acquired a new position in PIMCO High Income Fund during the second quarter worth $53,000. Avantax Advisory Services Inc. lifted its stake in PIMCO High Income Fund by 21.6% during the first quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock worth $69,000 after purchasing an additional 2,500 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in PIMCO High Income Fund during the first quarter worth $79,000. Finally, Nomura Holdings Inc. acquired a new position in PIMCO High Income Fund during the fourth quarter worth $104,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About PIMCO High Income Fund

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.