Short Interest in PIMCO Dynamic Income Fund (NYSE:PDI) Rises By 66.7%

PIMCO Dynamic Income Fund (NYSE:PDI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,150,000 shares, an increase of 66.7% from the February 28th total of 1,290,000 shares. Based on an average daily volume of 2,272,100 shares, the days-to-cover ratio is presently 0.9 days.

PIMCO Dynamic Income Fund Price Performance

Shares of NYSE PDI traded up $0.01 during midday trading on Friday, hitting $19.73. 1,206,596 shares of the company’s stock traded hands, compared to its average volume of 1,824,907. PIMCO Dynamic Income Fund has a 1 year low of $18.17 and a 1 year high of $20.90. The firm has a fifty day moving average of $19.60 and a 200 day moving average of $19.45.

PIMCO Dynamic Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.2205 per share. The ex-dividend date is Thursday, March 13th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 13.41%.

Institutional Investors Weigh In On PIMCO Dynamic Income Fund

A number of hedge funds have recently made changes to their positions in PDI. Bank of Montreal Can increased its position in PIMCO Dynamic Income Fund by 12.3% in the third quarter. Bank of Montreal Can now owns 128,886 shares of the company’s stock worth $2,613,000 after purchasing an additional 14,153 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of PIMCO Dynamic Income Fund in the 3rd quarter worth approximately $339,000. Benjamin Edwards Inc. raised its holdings in shares of PIMCO Dynamic Income Fund by 22.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 10,897 shares of the company’s stock valued at $221,000 after purchasing an additional 1,987 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in PIMCO Dynamic Income Fund by 53.6% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 70,789 shares of the company’s stock valued at $1,435,000 after acquiring an additional 24,704 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in PIMCO Dynamic Income Fund by 18.6% in the third quarter. HighTower Advisors LLC now owns 288,379 shares of the company’s stock worth $5,846,000 after purchasing an additional 45,250 shares in the last quarter.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund is a close ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in multiple fixed-income sectors, including non-agency residential and commercial mortgage-backed securities and below investment-grade securities.