Short-term interest in PIMCO High Income Fund (NYSE:PHK) rises 72.9%

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PIMCO High Income Fund (NYSE: PHKGet a rating) saw strong growth in short-term interest during the month of May. As of May 15, there was short interest totaling 461,900 shares, up 72.9% from the April 30 total of 267,200 shares. Based on an average daily volume of 469,700 shares, the short-term interest rate ratio is currently 1.0 day.

Major investors have recently changed their stake in the company. Citigroup Inc. increased its holdings of PIMCO High Income Fund shares by 43.5% in the third quarter. Citigroup Inc. now owns 6,851 shares of the investment management company valued at $43,000 after acquiring 2,078 additional shares last quarter. Concourse Financial Group Securities Inc. increased its holdings in PIMCO High Income Fund by 96.6% in the first quarter. Concourse Financial Group Securities Inc. now owns 7,888 shares of the investment management company worth $46,000 after buying 3,875 additional shares last quarter. Andrew Hill Investment Advisors Inc. acquired a new stake in PIMCO High Income Fund during the fourth quarter worth approximately $58,000. Freestone Capital Holdings LLC acquired a new stake in PIMCO High Income Fund during the fourth quarter worth approximately $63,000. Finally, National Asset Management Inc. acquired a new stake in PIMCO High Income Fund during the fourth quarter at a value of approximately $65,000. 8.64% of the shares are currently held by institutional investors and hedge funds.

Shares of PIMCO High Income Fund traded at $0.16 during midday trading on Friday, reaching $5.81. 367,166 shares of the company were traded, against an average volume of 497,266. The PIMCO High Income Fund has a 12-month low of $5.33 and a 12-month high of $7.09. The company’s 50-day simple moving average is $5.71 and its 200-day simple moving average is $5.91.

The company also recently announced a monthly dividend, which will be paid on Wednesday, June 1. Shareholders of record on Thursday, May 12 will receive a dividend of $0.048. This represents an annualized dividend of $0.58 and a dividend yield of 9.91%. The ex-date of this dividend is Wednesday, May 11.

PIMCO High Income Fund Company Profile (Get a rating)

PIMCO High Income Fund is a closed-end, 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 public bond markets around the world. The fund invests in high yield corporate debt securities denominated in US dollars.

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