PCM Fund Inc. (NYSE:PCM) Sees Significant Growth in Short Interest

PCM Fund Inc. (NYSE:PCM) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 19,600 shares, a growth of 23.3% from the October 15th total of 15,900 shares. Based on an average trading volume of 46,700 shares, the days-to-cover ratio is presently 0.4 days.

PCM Fund Stock Down 0.7 %

PCM traded down $0.06 during trading on Friday, reaching $7.99. 21,178 shares of the company’s stock were exchanged, compared to its average volume of 44,228. The business has a 50 day moving average price of $8.02 and a 200 day moving average price of $7.99. PCM Fund has a fifty-two week low of $7.26 and a fifty-two week high of $9.15.

PCM Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 12.02%. The ex-dividend date is Tuesday, November 12th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PCM Fund stock. Horizon Kinetics Asset Management LLC lifted its holdings in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,252 shares of the investment management company’s stock after buying an additional 15,720 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.34% of PCM Fund worth $322,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 10.26% of the company’s stock.

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.