PIMCO Income Strategy Fund II (NYSE:PFN) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund II (NYSE:PFN – Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.25 and traded as low as $6.74. PIMCO Income Strategy Fund II shares last traded at $6.7750, with a volume of 868,814 shares changing hands.

PIMCO Income Strategy Fund II Stock Performance

The firm’s 50-day moving average is $6.95 and its two-hundred day moving average is $7.25.

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PIMCO Income Strategy Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a dividend of $0.0718 per share. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Monday, May 11th.

Institutional Investors Weigh In On PIMCO Income Strategy Fund II

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of PIMCO Income Strategy Fund II by 4.2% in the 2nd quarter. Invesco Ltd. now owns 670,454 shares of the financial services provider’s stock worth $4,955,000 after acquiring an additional 27,195 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in PIMCO Income Strategy Fund II by 12.9% in the second quarter. Main Street Financial Solutions LLC now owns 56,691 shares of the financial services provider’s stock valued at $419,000 after buying an additional 6,468 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of PIMCO Income Strategy Fund II by 11.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 758,129 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 76,379 shares during the period. Bank of America Corp DE raised its position in PIMCO Income Strategy Fund II by 13.4% in the second quarter. Bank of America Corp DE now owns 102,299 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 12,105 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of PIMCO Income Strategy Fund II in the 2nd quarter valued at $134,000.

About PIMCO Income Strategy Fund II

(Get Free Report)

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.

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