PIMCO High Income Fund (NYSE:PHK) Sees Large Drop in Short Interest

PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 263,892 shares, a decrease of 60.3% from the March 15th total of 664,076 shares. Currently, 0.2% of the company's stock are short sold. Based on an average trading volume of 772,374 shares, the days-to-cover ratio is presently 0.3 days.Get PIMCO High Income Fund alerts:Institutional Inflows and OutflowsA number of hedge funds have recently added to or reduced their stakes in PHK. Orion Porfolio Solutions LLC grew its stake in PIMCO High Income Fund by 145.3% during the 4th quarter. Orion Porfolio Solutions LLC now owns 1,158,205 shares of the investment management company's stock worth $5,629,000 after buying an additional 686,037 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in PIMCO High Income Fund during the 4th quarter worth approximately $2,734,000. Osaic Holdings Inc. grew its stake in PIMCO High Income Fund by 32.8% during the 4th quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company's stock worth $8,076,000 after buying an additional 410,137 shares during the last quarter. Cetera Investment Advisers grew its stake in PIMCO High Income Fund by 35.8% during the 4th quarter. Cetera Investment Advisers now owns 880,845 shares of the investment management company's stock worth $4,281,000 after buying an additional 232,198 shares during the last quarter. Finally, Elm3 Financial Group LLC purchased a new position in PIMCO High Income Fund during the 4th quarter worth approximately $1,016,000. Hedge funds and other institutional investors own 11.75% of the company's stock. PIMCO High Income Fund Trading Down 1.4%Shares of NYSE:PHK traded down $0.07 on Friday, hitting $4.66. 1,098,369 shares of the company's stock were exchanged, compared to its average volume of 816,105. The firm's 50-day moving average is $4.78 and its 200 day moving average is $4.84. PIMCO High Income Fund has a 1-year low of $4.41 and a 1-year high of $5.04. PIMCO High Income Fund Dividend AnnouncementThe firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Monday, April 13th will be given a dividend of $0.048 per share. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Monday, April 13th. About PIMCO High Income Fund (Get Free Report)The PIMCO High Income Fund NYSE: PHK is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration. PHK's investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.Recommended StoriesFive stocks we like better than PIMCO High Income FundThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in PIMCO High Income Fund Right Now?Before you consider PIMCO High Income Fund, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PIMCO High Income Fund wasn't on the list.While PIMCO High Income Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here