Pcm Fund (NYSE:PCM) Short Interest Update
by Tristan Rich · The Markets DailyPcm Fund (NYSE:PCM – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 29,690 shares, an increase of 73.4% from the February 26th total of 17,122 shares. Based on an average trading volume of 50,889 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are sold short.
Institutional Trading of Pcm Fund
A number of hedge funds and other institutional investors have recently made changes to their positions in PCM. LPL Financial LLC boosted its holdings in shares of Pcm Fund by 6.7% in the fourth quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock valued at $1,894,000 after acquiring an additional 19,364 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in Pcm Fund in the fourth quarter worth approximately $1,849,000. Guggenheim Capital LLC lifted its position in Pcm Fund by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock worth $1,779,000 after purchasing an additional 72,482 shares during the period. Sovran Advisors LLC boosted its stake in Pcm Fund by 3.9% during the 3rd quarter. Sovran Advisors LLC now owns 88,609 shares of the investment management company’s stock valued at $553,000 after purchasing an additional 3,354 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Pcm Fund by 65.2% during the 4th quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock valued at $213,000 after purchasing an additional 13,667 shares during the period. 10.26% of the stock is currently owned by institutional investors.
Pcm Fund Trading Down 0.7%
PCM stock traded down $0.04 during trading on Friday, reaching $5.55. 77,895 shares of the company’s stock were exchanged, compared to its average volume of 49,382. Pcm Fund has a 1-year low of $5.52 and a 1-year high of $6.76. The company’s fifty day moving average price is $5.95 and its 200-day moving average price is $6.19.
Pcm Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be issued a $0.0642 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a yield of 13.9%.
Pcm Fund Company Profile
PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.
The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.