PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Drop in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 117,423 shares, a decrease of 40.0% from the June 15th total of 195,597 shares. Based on an average daily volume of 279,129 shares, the short-interest ratio is currently 0.4 days.

PIMCO Corporate & Income Strategy Fund Price Performance

Shares of NYSE:PCN traded up $0.07 during mid-day trading on Thursday, reaching $11.77. The stock had a trading volume of 139,161 shares, compared to its average volume of 351,725. PIMCO Corporate & Income Strategy Fund has a 1 year low of $11.40 and a 1 year high of $13.49. The business’s 50 day moving average price is $11.78 and its 200 day moving average price is $12.18.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Several large investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter worth about $3,875,000. Wells Fargo & Company MN lifted its position in shares of PIMCO Corporate & Income Strategy Fund by 69.6% during the fourth quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock valued at $4,866,000 after buying an additional 156,439 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 1st quarter valued at about $1,524,000. GHE LLC grew its position in shares of PIMCO Corporate & Income Strategy Fund by 19.5% in the 1st quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock worth $8,902,000 after buying an additional 122,079 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter worth approximately $1,492,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.