PIMCO Income Strategy Fund (NYSE:PFL) Shares Cross Below 50 Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund (NYSE:PFL – Get Free Report) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $6.97 and traded as low as $6.85. PIMCO Income Strategy Fund shares last traded at $6.8660, with a volume of 186,546 shares traded.

PIMCO Income Strategy Fund Price Performance

The firm has a 50 day simple moving average of $6.97 and a 200-day simple moving average of $7.70.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.0814 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 14.2%.

Institutional Investors Weigh In On PIMCO Income Strategy Fund

A number of large investors have recently added to or reduced their stakes in PFL. Allworth Financial LP acquired a new stake in PIMCO Income Strategy Fund during the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new position in shares of PIMCO Income Strategy Fund in the second quarter valued at $75,000. Landscape Capital Management L.L.C. acquired a new position in shares of PIMCO Income Strategy Fund in the third quarter valued at $78,000. CoreCap Advisors LLC increased its holdings in shares of PIMCO Income Strategy Fund by 47.9% in the second quarter. CoreCap Advisors LLC now owns 12,345 shares of the investment management company’s stock valued at $97,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new stake in shares of PIMCO Income Strategy Fund during the 2nd quarter worth about $116,000.

PIMCO Income Strategy Fund Company Profile

(Get Free Report)

PIMCO Income Strategy Fund (NYSE:PFL) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. PFL invests primarily in a diversified portfolio of fixed-income securities issued by governments, corporations and other entities. Its investments may include investment-grade and below-investment-grade debt, mortgage- and asset-backed securities, emerging-market debt, and other income-producing instruments.

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