PCM Fund Inc. (NYSE:PCM) Sees Large Increase in Short Interest

PCM Fund Inc. (NYSE:PCM) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 23,800 shares, an increase of 88.9% from the February 28th total of 12,600 shares. Based on an average daily volume of 74,700 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On PCM Fund

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in PCM Fund in the fourth quarter valued at about $137,000. Two Sigma Securities LLC bought a new position in shares of PCM Fund in the fourth quarter valued at approximately $152,000. Sovran Advisors LLC acquired a new position in shares of PCM Fund in the 4th quarter worth approximately $443,000. Finally, Financial Advocates Investment Management grew its position in PCM Fund by 10.8% during the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after acquiring an additional 20,950 shares during the last quarter. Institutional investors own 10.26% of the company’s stock.

PCM Fund Trading Up 0.3 %

Shares of PCM traded up $0.02 during mid-day trading on Friday, reaching $6.46. The company had a trading volume of 31,061 shares, compared to its average volume of 54,980. The company’s 50-day moving average is $6.61 and its 200-day moving average is $7.41. PCM Fund has a twelve month low of $6.37 and a twelve month high of $9.15.

PCM Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.0642 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 11.93%.

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.