PIMCO Income Strategy Fund (NYSE:PFL) Share Price Crosses Below 200-Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL – Get Free Report)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $7.73 and traded as low as $6.81. PIMCO Income Strategy Fund shares last traded at $6.8950, with a volume of 341,973 shares traded.

PIMCO Income Strategy Fund Stock Performance

The stock has a 50-day moving average of $7.49 and a two-hundred day moving average of $7.72.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $0.0814 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of PIMCO Income Strategy Fund in the 2nd quarter worth about $75,000. Fortitude Advisory Group L.L.C. increased its stake in PIMCO Income Strategy Fund by 30.6% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 26,745 shares of the investment management company’s stock valued at $211,000 after purchasing an additional 6,273 shares in the last quarter. Tudor Financial Inc. bought a new stake in PIMCO Income Strategy Fund during the 2nd quarter valued at about $116,000. TD Waterhouse Canada Inc. raised its holdings in PIMCO Income Strategy Fund by 68.1% in the second quarter. TD Waterhouse Canada Inc. now owns 41,665 shares of the investment management company’s stock worth $329,000 after buying an additional 16,880 shares during the last quarter. Finally, IMC Chicago LLC purchased a new position in PIMCO Income Strategy Fund in the second quarter worth about $252,000.

About PIMCO Income Strategy Fund

(Get Free Report)

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company advised 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 income-producing securities. Its holdings may include corporate bonds, government and agency debt, mortgage-related securities, emerging-market debt and other fixed-income instruments issued by borrowers in the United States and international markets.

Further Reading

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