PCM Fund Inc. (NYSE:PCM) Sees Significant Decrease in Short Interest

PCM Fund Inc. (NYSE:PCM) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 8,700 shares, a decrease of 13.0% from the January 31st total of 10,000 shares. Based on an average daily volume of 67,500 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On PCM Fund

Several large investors have recently made changes to their positions in PCM. Two Sigma Securities LLC bought a new stake in PCM Fund during the 4th quarter valued at approximately $152,000. Raymond James Financial Inc. purchased a new stake in PCM Fund during the 4th quarter valued at approximately $137,000. Sovran Advisors LLC bought a new stake in shares of PCM Fund during the fourth quarter valued at approximately $443,000. Financial Advocates Investment Management lifted its holdings in shares of PCM Fund by 10.8% in the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after buying an additional 20,950 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position 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 during the last quarter. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

PCM Fund Price Performance

Shares of NYSE PCM opened at $6.66 on Friday. PCM Fund has a 1 year low of $6.50 and a 1 year high of $9.15. The firm has a fifty day moving average price of $6.77 and a 200-day moving average price of $7.55.

PCM Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a $0.0642 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.77 dividend on an annualized basis and a yield of 11.57%.

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.