PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.83 and traded as low as $11.23. PIMCO Corporate & Income Strategy Fund shares last traded at $11.2660, with a volume of 510,740 shares trading hands.

PIMCO Corporate & Income Strategy Fund Stock Performance

The business has a 50 day moving average of $11.66 and a 200-day moving average of $11.82.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Friday, September 11th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the 2nd quarter valued at about $3,334,000. Astoria Portfolio Advisors LLC. acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund in the first quarter valued at about $1,524,000. GHE LLC raised its stake in shares of 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 worth $8,902,000 after purchasing an additional 122,079 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in PIMCO Corporate & Income Strategy Fund during the fourth quarter worth $1,492,000. Finally, Rivernorth Capital Management LLC increased its holdings in PIMCO Corporate & Income Strategy Fund by 20.7% during the second quarter. Rivernorth Capital Management LLC now owns 428,965 shares of the investment management company’s stock worth $5,126,000 after buying an additional 73,709 shares during the last quarter.

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.