PIMCO Strategic Income Fund (NYSE:RCS) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCSGet Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.00 and traded as low as $5.28. PIMCO Strategic Income Fund shares last traded at $5.3140, with a volume of 225,467 shares trading hands.

PIMCO Strategic Income Fund Trading Down 2.0%

The business has a fifty day moving average price of $5.44 and a two-hundred day moving average price of $6.00.

PIMCO Strategic Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RCS. Comerica Bank grew its holdings in shares of PIMCO Strategic Income Fund by 959.0% during the first quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock valued at $33,000 after buying an additional 4,795 shares in the last quarter. Cetera Investment Advisers grew its stake in PIMCO Strategic Income Fund by 2.3% in the second quarter. Cetera Investment Advisers now owns 72,983 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 1,674 shares in the last quarter. First Trust Advisors LP purchased a new position in PIMCO Strategic Income Fund in the second quarter valued at about $85,000. StoneX Group Inc. purchased a new position in PIMCO Strategic Income Fund in the second quarter valued at about $72,000. Finally, Benjamin Edwards Inc. grew its stake in PIMCO Strategic Income Fund by 5.0% in the second quarter. Benjamin Edwards Inc. now owns 425,434 shares of the investment management company’s stock valued at $2,961,000 after purchasing an additional 20,093 shares in the last quarter. Hedge funds and other institutional investors own 13.48% of the company’s stock.

About PIMCO Strategic Income Fund

(Get Free Report)

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.

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