Horizon Kinetics Asset Management LLC Acquires 15,720 Shares of PCM Fund Inc. (NYSE:PCM)

Horizon Kinetics Asset Management LLC raised its holdings in PCM Fund Inc. (NYSE:PCM) by 64.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,252 shares of the investment management company’s stock after buying an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned 0.34% of PCM Fund worth $322,000 at the end of the most recent reporting period.

Separately, Financial Advocates Investment Management increased its stake in PCM Fund by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 180,897 shares of the investment management company’s stock valued at $1,342,000 after buying an additional 5,972 shares during the last quarter. Institutional investors own 10.26% of the company’s stock.

PCM Fund Trading Down 0.2 %

Shares of PCM stock opened at $7.98 on Wednesday. PCM Fund Inc. has a 1 year low of $7.26 and a 1 year high of $9.15. The firm’s fifty day moving average price is $8.04 and its two-hundred day moving average price is $7.94.

PCM Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.96 annualized dividend and a yield of 12.03%.

PCM Fund 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.