PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.86 and traded as low as $12.41. PIMCO Corporate & Income Strategy Fund shares last traded at $12.43, with a volume of 376,974 shares traded.

PIMCO Corporate & Income Strategy Fund Trading Down 0.8%

The company has a 50-day moving average price of $13.11 and a 200-day moving average price of $12.86.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.1125 dividend. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Friday, November 14th.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mission Hills Financial Advisory LLC raised its stake in PIMCO Corporate & Income Strategy Fund by 12.4% during the 3rd quarter. Mission Hills Financial Advisory LLC now owns 1,179,322 shares of the investment management company’s stock worth $15,779,000 after buying an additional 129,950 shares during the period. Guggenheim Capital LLC raised its position in shares of PIMCO Corporate & Income Strategy Fund by 3.1% during the second quarter. Guggenheim Capital LLC now owns 1,153,405 shares of the investment management company’s stock worth $14,637,000 after purchasing an additional 34,940 shares during the period. GHE LLC lifted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 2.9% during the 3rd quarter. GHE LLC now owns 626,007 shares of the investment management company’s stock valued at $8,376,000 after purchasing an additional 17,708 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of PIMCO Corporate & Income Strategy Fund by 6.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 560,280 shares of the investment management company’s stock valued at $7,648,000 after purchasing an additional 32,682 shares during the period. Finally, Invesco Ltd. increased its stake in PIMCO Corporate & Income Strategy Fund by 4.0% during the 3rd quarter. Invesco Ltd. now owns 467,968 shares of the investment management company’s stock worth $6,261,000 after purchasing an additional 18,153 shares in the last quarter.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund 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 invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.