Short Interest in PCM Fund Inc. (NYSE:PCM) Grows By 44.8%

PCM Fund Inc. (NYSE:PCM) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 12,600 shares, a growth of 44.8% from the February 13th total of 8,700 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 74,200 shares, the days-to-cover ratio is currently 0.2 days.

PCM Fund Price Performance

Shares of NYSE PCM traded down $0.03 during midday trading on Monday, hitting $6.47. 29,806 shares of the company traded hands, compared to its average volume of 55,093. PCM Fund has a 12-month low of $6.37 and a 12-month high of $9.15. The stock has a 50-day moving average price of $6.66 and a 200 day moving average price of $7.50.

PCM Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 11.92%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Investors Weigh In On PCM Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of PCM Fund during the fourth quarter valued at approximately $137,000. Two Sigma Securities LLC purchased a new stake in shares of PCM Fund during the fourth quarter valued at approximately $152,000. Horizon Kinetics Asset Management LLC grew its holdings 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 valued at $322,000 after buying an additional 15,720 shares during the last quarter. Sovran Advisors LLC purchased a new stake in shares of PCM Fund during the fourth quarter valued at approximately $443,000. Finally, Financial Advocates Investment Management grew its holdings in shares of PCM Fund by 10.8% during 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 buying an additional 20,950 shares during the last quarter. Hedge funds and other institutional investors own 10.26% of the company’s stock.

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.