Pcm Fund (NYSE:PCM) Share Price Passes Below 200-Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyPcm Fund (NYSE:PCM – Get Free Report)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.22 and traded as low as $5.52. Pcm Fund shares last traded at $5.58, with a volume of 73,071 shares.
Pcm Fund Stock Down 1.8%
The stock’s fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $6.22.
Pcm Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be issued a $0.0642 dividend. This represents a c) annualized dividend and a yield of 13.8%. The ex-dividend date of this dividend is Thursday, March 12th.
Hedge Funds Weigh In On Pcm Fund
Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its stake in Pcm Fund by 6.7% in the 4th quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock worth $1,894,000 after purchasing an additional 19,364 shares in the last quarter. Rivernorth Capital Management LLC bought a new stake in Pcm Fund during the 4th quarter valued at about $1,849,000. Guggenheim Capital LLC increased its stake in Pcm Fund by 33.4% during the 4th quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock valued at $1,779,000 after purchasing an additional 72,482 shares in the last quarter. Sovran Advisors LLC raised its holdings in Pcm Fund by 3.9% in the third quarter. Sovran Advisors LLC now owns 88,609 shares of the investment management company’s stock worth $553,000 after buying an additional 3,354 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of Pcm Fund by 65.2% in the fourth quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock worth $213,000 after buying an additional 13,667 shares in the last quarter. 10.26% of the stock is currently owned by institutional investors.
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.