PCM Fund Inc. (NYSE:PCM) Short Interest Update

PCM Fund Inc. (NYSE:PCM) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 84,300 shares, a drop of 19.7% from the May 15th total of 105,000 shares. Based on an average trading volume of 46,200 shares, the short-interest ratio is presently 1.8 days.

PCM Fund Trading Up 0.1 %

NYSE PCM traded up $0.01 during trading hours on Friday, hitting $7.81. 33,445 shares of the company’s stock were exchanged, compared to its average volume of 81,861. The stock has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $8.28. PCM Fund has a 1-year low of $6.88 and a 1-year high of $10.20.

PCM Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 13th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 12.29%. The ex-dividend date is Thursday, June 13th.

Institutional Trading of PCM Fund

Several hedge funds have recently modified their holdings of the stock. Financial Advocates Investment Management increased its stake in PCM Fund by 19.7% in the fourth quarter. Financial Advocates Investment Management now owns 152,553 shares of the investment management company’s stock valued at $1,214,000 after purchasing an additional 25,109 shares in the last quarter. Foundations Investment Advisors LLC increased its position in PCM Fund by 18.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 364,632 shares of the investment management company’s stock valued at $2,943,000 after buying an additional 55,772 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new position in PCM Fund during the 4th quarter worth approximately $84,000. Finally, Concord Investment Counsel Inc. bought a new position in PCM Fund in the first quarter worth approximately $1,121,000. Institutional investors own 10.26% of the company’s stock.

PCM Fund Company Profile

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.