PCM Fund (NYSE:PCM) Shares Cross Below 200 Day Moving Average – Time to Sell?

PCM Fund Inc. (NYSE:PCM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.61 and traded as low as $6.55. PCM Fund shares last traded at $6.56, with a volume of 40,930 shares traded.

PCM Fund Stock Down 0.7 %

The stock has a fifty day moving average of $6.98 and a 200-day moving average of $7.61.

PCM Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be paid a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date of this dividend is Thursday, February 13th.

Institutional Investors Weigh In On PCM Fund

A number of institutional investors have recently bought and sold shares of PCM. Financial Advocates Investment Management lifted its position in shares of PCM Fund by 7.7% in the third quarter. Financial Advocates Investment Management now owns 194,870 shares of the investment management company’s stock worth $1,557,000 after purchasing an additional 13,973 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of PCM Fund by 64.1% during the third quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock worth $322,000 after acquiring an additional 15,720 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PCM Fund during the 4th quarter valued at about $137,000. Two Sigma Securities LLC bought a new stake in PCM Fund in the fourth quarter worth approximately $152,000. Finally, Sovran Advisors LLC bought a new stake in PCM Fund in the fourth quarter worth $443,000. 10.26% of the stock is currently owned by institutional investors and hedge funds.

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.