Short Interest in Pcm Fund (NYSE:PCM) Declines By 27.0%
Pcm Fund (NYSE:PCM) experienced a significant decline in short interest, dropping 27.0% to 29,200 shares as of October 15th. This represents approximately 0.2% of the company's stock. The days-to-cover ratio is 0.5 days based on an average daily volume of 60,600 shares. Additionally, the company declared a monthly dividend of $0.0642, payable on November 3rd, with an annualized yield of 12.3%. Pcm Fund's stock rose 0.3% to $6.29 during midday trading.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PCM. Landscape Capital Management L.L.C. acquired a new position in shares of Pcm Fund in the 1st quarter worth approximately $1,565,000. Arlington Capital Management Inc. acquired a new position in shares of Pcm Fund in the 1st quarter worth approximately $651,000. Ieq Capital LLC acquired a new position in shares of Pcm Fund in the 1st quarter worth approximately $591,000. Finally, Sovran Advisors LLC lifted its position in shares of Pcm Fund by 3.9% in the 3rd quarter. Sovran Advisors LLC now owns 88,609 shares of the investment management company's stock worth $553,000 after purchasing an additional 3,354 shares during the period. Institutional investors and hedge funds own 10.26% of the company's stock.
Pcm Fund Stock Up 0.3%
Shares of NYSE PCM traded up $0.02 during midday trading on Monday, reaching $6.29. The stock had a trading volume of 53,867 shares, compared to its average volume of 60,587. Pcm Fund has a twelve month low of $5.88 and a twelve month high of $8.39. The company's 50 day moving average price is $6.51 and its 200 day moving average price is $6.36.
Pcm Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be given a $0.0642 dividend. The ex-dividend date is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.
Pcm Fund Company Profile
(Get Free Report)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.
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