PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Large Growth in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 156,299 shares, an increase of 80.0% from the July 15th total of 86,814 shares. Based on an average trading volume of 287,640 shares, the days-to-cover ratio is currently 0.5 days.

PIMCO Corporate & Income Strategy Fund Price Performance

Shares of PIMCO Corporate & Income Strategy Fund stock traded down $0.04 during trading on Tuesday, hitting $11.71. The stock had a trading volume of 98,994 shares, compared to its average volume of 347,663. PIMCO Corporate & Income Strategy Fund has a 12 month low of $11.40 and a 12 month high of $13.49. The firm’s fifty day simple moving average is $11.76 and its 200-day simple moving average is $12.01.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

Several institutional investors have recently added to or reduced their stakes in PCN. Invesco Ltd. boosted its position in shares of PIMCO Corporate & Income Strategy Fund by 9.6% during the second quarter. Invesco Ltd. now owns 449,815 shares of the investment management company’s stock valued at $5,708,000 after buying an additional 39,540 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 72.0% in the second quarter. Peapack Gladstone Financial Corp now owns 29,578 shares of the investment management company’s stock worth $375,000 after buying an additional 12,378 shares during the period. Jane Street Group LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 2nd quarter worth approximately $551,000. Bank of America Corp DE lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 5.0% during the 2nd quarter. Bank of America Corp DE now owns 244,615 shares of the investment management company’s stock worth $3,104,000 after acquiring an additional 11,660 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in PIMCO Corporate & Income Strategy Fund during the 2nd quarter valued at $1,463,000.

PIMCO Corporate & Income Strategy Fund Company Profile

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.