57,584 Shares in PCM Fund Inc. (NYSE:PCM) Bought by Sovran Advisors LLC

Sovran Advisors LLC purchased a new position in shares of PCM Fund Inc. (NYSE:PCM) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 57,584 shares of the investment management company’s stock, valued at approximately $443,000.

Separately, Financial Advocates Investment Management increased its stake in shares of PCM Fund by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock valued at $1,662,000 after acquiring an additional 20,950 shares in the last quarter. 10.26% of the stock is owned by institutional investors and hedge funds.

PCM Fund Trading Down 0.1 %

NYSE:PCM opened at $6.75 on Thursday. The company has a fifty day moving average of $7.19 and a 200-day moving average of $7.66. PCM Fund Inc. has a twelve month low of $6.50 and a twelve month high of $9.15.

PCM Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be given a dividend of $0.0642 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 11.42%.

PCM Fund 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.