PCM Fund (PCM) Declares $0.08 Dividend
PCM Fund said on June 1, 2023 that its board of directors declared a regular monthly dividend of $0.08 per share ($0.96 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on July 3, 2023.
At the current share price of $9.19 / share, the stock's dividend yield is 10.45%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.30%, the lowest has been 7.92%, and the highest has been 15.38%. The standard deviation of yields is 1.12 (n=237).
The current dividend yield is 1.03 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 27 funds or institutions reporting positions in PCM Fund. This is an increase of 5 owner(s) or 22.73% in the last quarter. Average portfolio weight of all funds dedicated to PCM is 0.01%, a decrease of 1.17%. Total shares owned by institutions increased in the last three months by 7.27% to 950K shares.
What are Other Shareholders Doing?
SOL Capital Management holds 143K shares. In it's prior filing, the firm reported owning 143K shares, representing a decrease of 0.35%. The firm increased its portfolio allocation in PCM by 18.15% over the last quarter.
GWM Advisors holds 142K shares. No change in the last quarter.
Financial Advocates Investment Management holds 109K shares. In it's prior filing, the firm reported owning 64K shares, representing an increase of 41.07%. The firm increased its portfolio allocation in PCM by 75.05% over the last quarter.
Commonwealth Equity Services holds 72K shares. In it's prior filing, the firm reported owning 72K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in PCM by 93,532.44% over the last quarter.
Wells Fargo holds 60K shares. In it's prior filing, the firm reported owning 53K shares, representing an increase of 11.55%. The firm decreased its portfolio allocation in PCM by 61.10% over the last quarter.
PCM Fund Background Information
(This description is provided by the company.)
PCM Fund, Inc. seeks to achieve high current income by investing in a portfolio comprised primarily of commercial mortgage-backed securities. Supported by PIMCO’s renowned credit research and analytical capabilities, the fund seeks to achieve high current income as a primary objective. Capital gain from the disposition of assets is a secondary objective. The fund has the ability to invest in agency-guaranteed mortgage-backed securities, private label (commonly known as “non-agency”) mortgage-backed securities, investment grade corporate debt securities, high yield corporate debt securities and commercial mortgage-backed securities.
This story originally appeared on Fintel.