PCM Fund Inc. (NYSE:PCM) Short Interest Update

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 volume of 74,700 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On PCM Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCM. Raymond James Financial Inc. purchased a new stake in shares of PCM Fund in the fourth quarter worth $137,000. Two Sigma Securities LLC purchased a new stake in PCM Fund in the 4th quarter worth $152,000. Sovran Advisors LLC bought a new stake in PCM Fund during the fourth quarter valued at about $443,000. Finally, Financial Advocates Investment Management lifted its position 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 valued at $1,662,000 after acquiring an additional 20,950 shares in the last quarter. Institutional investors own 10.26% of the company’s stock.

PCM Fund Stock Performance

NYSE:PCM traded up $0.02 during mid-day trading on Friday, hitting $6.46. 31,061 shares of the company traded hands, compared to its average volume of 54,980. The stock’s fifty day moving average price is $6.61 and its 200-day moving average price is $7.41. PCM Fund has a one year low of $6.37 and a one year high of $9.15.

PCM Fund Announces Dividend

The company 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 annualized dividend and a yield of 11.93%. The ex-dividend date is Thursday, March 13th.

About PCM Fund

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.