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

PCM Fund Inc. (NYSE:PCM) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 27,200 shares, a drop of 21.4% from the December 15th total of 34,600 shares. Based on an average trading volume of 52,300 shares, the days-to-cover ratio is currently 0.5 days.

PCM Fund Stock Down 0.1 %

Shares of PCM traded down $0.01 during trading hours on Friday, hitting $6.71. The stock had a trading volume of 59,241 shares, compared to its average volume of 137,486. The company’s fifty day moving average is $7.70 and its two-hundred day moving average is $7.78. PCM Fund has a 52 week low of $6.50 and a 52 week high of $9.15.

PCM Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be issued a dividend of $0.0642 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.77 dividend on an annualized basis and a yield of 11.50%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PCM Fund stock. Horizon Kinetics Asset Management LLC increased its stake in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,252 shares of the investment management company’s stock after purchasing 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. 10.26% of the stock is currently owned by institutional investors and hedge funds.

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.