PIMCO Corporate & Income Strategy Fund (NYSE:PCN – Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 228,053 shares, an increase of 265.0% from the September 30th total of 62,488 shares. Based on an average trading volume of 606,096 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Trading of PIMCO Corporate & Income Strategy Fund
Several large investors have recently bought and sold shares of the business. Apollon Wealth Management LLC increased its position in PIMCO Corporate & Income Strategy Fund by 8.5% during the third quarter. Apollon Wealth Management LLC now owns 29,049 shares of the investment management company’s stock worth $310,000 after purchasing an additional 2,278 shares during the last quarter. PFS Partners LLC increased its position in shares of PIMCO Corporate & Income Strategy Fund by 66.7% during the third quarter. PFS Partners LLC now owns 2,500 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 3rd quarter worth approximately $32,000. Shaker Financial Services LLC increased its holdings in PIMCO Corporate & Income Strategy Fund by 72.8% in the 3rd quarter. Shaker Financial Services LLC now owns 87,404 shares of the investment management company’s stock valued at $933,000 after purchasing an additional 36,835 shares during the last quarter. Finally, Paller Financial Services Inc acquired a new position in PIMCO Corporate & Income Strategy Fund during the third quarter worth $255,000.
PIMCO Corporate & Income Strategy Fund Stock Down 1.0%
Shares of PIMCO Corporate & Income Strategy Fund stock traded down $0.10 on Friday, reaching $10.81. The company’s stock had a trading volume of 48,385 shares, compared to its average volume of 383,314. The stock has a 50-day moving average price of $11.09 and a 200-day moving average price of $11.82. PIMCO Corporate & Income Strategy Fund has a 52-week low of $10.44 and a 52-week high of $13.19.
PIMCO Corporate & Income Strategy Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a $0.1125 dividend. This represents a $1.35 annualized dividend and a dividend yield of 12.5%. The ex-dividend date is Tuesday, October 13th.
About PIMCO Corporate & Income Strategy Fund
PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a closed-end management investment company designed to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PIMCO, a global investment management firm specializing in fixed-income and related strategies.
PCN invests primarily in corporate debt obligations and other income-producing securities. Its portfolio may include investment-grade and below-investment-grade bonds, commonly known as high-yield bonds, as well as securities issued by companies and governments in the United States and other countries.
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