PIMCO High Income Fund (PHK)’s Stock Is Sell After Forming Bearish Double Bottom Chart Pattern

September 17, 2017 - By Linda Rogers

Investors sentiment decreased to 0.72 in 2016 Q4. Its down 1.22, from 1.94 in 2016Q3. It turned negative, as 12 investors sold PIMCO High Income Fund shares while 17 reduced holdings. 9 funds opened positions while 12 raised stakes. 4.02 million shares or 14.39% less from 4.70 million shares in 2016Q3 were reported.
Stratford Consulting Limited Company stated it has 91,306 shares. Bank Of America De has 0% invested in PIMCO High Income Fund (NYSE:PHK) for 124,180 shares. Private Advisor Ltd holds 153,849 shares. Clifford Swan Invest Counsel Limited Company invested in 48,590 shares or 0.03% of the stock. Pnc Ser Grp Incorporated holds 112,858 shares or 0% of its portfolio. Sei Invests Co stated it has 0% of its portfolio in PIMCO High Income Fund (NYSE:PHK). Rfg Advisory Gru Ltd Limited Liability Company holds 45,752 shares. Moreover, Citadel Advisors Limited Co has 0% invested in PIMCO High Income Fund (NYSE:PHK) for 12,727 shares. 228 are held by Fifth Third State Bank. Royal National Bank Of Canada reported 27,742 shares. Pinnacle Assocs Ltd invested in 23,000 shares. Raymond James Assocs has invested 0% in PIMCO High Income Fund (NYSE:PHK). Commonwealth Equity Svcs reported 788,767 shares or 0.05% of all its holdings. Aviance Ptnrs Ltd Liability Co has 42,995 shares for 0.14% of their portfolio. Cambridge Inv Advisors Inc holds 0.02% of its portfolio in PIMCO High Income Fund (NYSE:PHK) for 105,202 shares.

The chart of PIMCO High Income Fund (PHK) shows a double bottom with $7.76 target or 7.00 % below today’s $8.34 share price. The 9 months chart pattern indicates high risk for the $1.07B company. It was reported on Sep, 17 by Finviz.com. If the $7.76 price target is reached, the company will be worth $74.90M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.12% or $0.01 on September 15, reaching $8.34. About 522,841 shares traded. PIMCO High Income Fund (NYSE:PHK) has declined 4.25% since September 17, 2016 and is downtrending. It has underperformed by 20.95% the S&P500.

More notable recent PIMCO High Income Fund (NYSE:PHK) news were published by: Seekingalpha.com which released: “Even After Recent Drop, Avoid PIMCO High Income Fund” on February 10, 2017, also Fool.com with their article: “Why PIMCO High Income Fund Dropped 10% Today” published on February 02, 2017, Seekingalpha.com published: “PHK Is Still In The Sell Column” on July 16, 2017. More interesting news about PIMCO High Income Fund (NYSE:PHK) were released by: Nasdaq.com and their article: “3 Zacks Rank #1 PIMCO Mutual Funds to Invest In” published on September 13, 2017 as well as Seekingalpha.com‘s news article titled: “Why You Can’t Just Buy PIMCO: CEF Weekly Update” with publication date: September 04, 2017.

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