PCM Fund Inc. (NYSE:PCM) Plans Monthly Dividend of $0.08

PCM Fund Inc. (NYSE:PCM) announced a monthly dividend on Monday, April 1st, investing.com reports. Stockholders of record on Thursday, April 11th will be paid a dividend of 0.08 per share by the investment management company on Wednesday, May 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.98%. The ex-dividend date is Wednesday, April 10th.

PCM Fund Trading Up 0.9 %

NYSE:PCM opened at $8.74 on Tuesday. PCM Fund has a 1 year low of $6.88 and a 1 year high of $10.20. The firm’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $8.13.

Institutional Investors Weigh In On PCM Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG lifted its position in shares of PCM Fund by 134.3% during the 4th quarter. UBS Group AG now owns 5,811 shares of the investment management company’s stock worth $46,000 after purchasing an additional 3,331 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of PCM Fund during the fourth quarter worth approximately $125,000. Jane Street Group LLC acquired a new position in shares of PCM Fund during the third quarter worth approximately $131,000. LPL Financial LLC boosted its position in shares of PCM Fund by 31.4% in the third quarter. LPL Financial LLC now owns 18,856 shares of the investment management company’s stock valued at $168,000 after acquiring an additional 4,511 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of PCM Fund by 5.0% in the first quarter. Bank of America Corp DE now owns 47,463 shares of the investment management company’s stock worth $400,000 after acquiring an additional 2,242 shares during the last quarter. 10.26% of the stock is owned by institutional investors and hedge funds.

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.