Short Interest in PCM Fund Inc. (NYSE:PCM) Rises By 88.9%

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

Institutional Investors Weigh In On PCM Fund

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of PCM Fund in the 4th quarter worth about $137,000. Two Sigma Securities LLC purchased a new position in PCM Fund in the fourth quarter worth about $152,000. Sovran Advisors LLC purchased a new stake in PCM Fund during the fourth quarter valued at approximately $443,000. Finally, Financial Advocates Investment Management raised its position in PCM Fund by 10.8% during the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock valued at $1,662,000 after purchasing an additional 20,950 shares during the period. Hedge funds and other institutional investors own 10.26% of the company’s stock.

PCM Fund Price Performance

PCM Fund stock traded up $0.02 during midday trading on Friday, reaching $6.46. 31,061 shares of the stock traded hands, compared to its average volume of 54,980. PCM Fund has a 12 month low of $6.37 and a 12 month high of $9.15. The stock’s fifty day moving average is $6.61 and its 200-day moving average is $7.41.

PCM Fund Dividend Announcement

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

PCM Fund Company 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.