PIMCO Corporate & Income Strategy Fund (NYSE:PCN – Get Free Report)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $11.63 and traded as low as $10.65. PIMCO Corporate & Income Strategy Fund shares last traded at $10.6940, with a volume of 509,409 shares.
PIMCO Corporate & Income Strategy Fund Stock Down 0.7%
The firm’s 50 day moving average price is $11.23 and its 200-day moving average price is $11.62.
PIMCO Corporate & Income Strategy Fund Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Tuesday, October 13th.
Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GHE LLC boosted its stake in PIMCO Corporate & Income Strategy Fund by 19.5% during the 1st quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock valued at $8,902,000 after purchasing an additional 122,079 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of PIMCO Corporate & Income Strategy Fund by 20.7% in the 2nd quarter. Rivernorth Capital Management LLC now owns 428,965 shares of the investment management company’s stock worth $5,126,000 after purchasing an additional 73,709 shares in the last quarter. Elevated Capital Advisors LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 10.2% in the first quarter. Elevated Capital Advisors LLC now owns 399,746 shares of the investment management company’s stock worth $4,757,000 after purchasing an additional 37,135 shares during the last quarter. Noble Wealth Management PBC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 2.9% in the second quarter. Noble Wealth Management PBC now owns 349,637 shares of the investment management company’s stock worth $4,178,000 after purchasing an additional 9,901 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the second quarter worth $3,334,000.
PIMCO Corporate & Income Strategy Fund Company Profile
PIMCO Corporate & Income Strategy Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PCN. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm, and is designed to provide shareholders with a high level of current income while also pursuing long-term capital appreciation.
The fund invests primarily in corporate debt securities and other income-producing investments. Its portfolio may include investment-grade and below-investment-grade corporate bonds, convertible securities, preferred securities, mortgage-related and other asset-backed securities, and obligations issued by governments and financial institutions.
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