PIMCO Dynamic Income Fund (NYSE:PDI) Stock Price Breaks Below Fifty Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s share price passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $15.19 and traded as low as $14.01. PIMCO Dynamic Income Fund shares last traded at $14.1650, with a volume of 4,723,149 shares traded.

PIMCO Dynamic Income Fund Stock Up 1.7%

The stock’s 50 day moving average is $15.15 and its 200 day moving average is $16.28.

PIMCO Dynamic Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a $0.2205 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $2.65 annualized dividend and a dividend yield of 18.4%.

Insider Activity at PIMCO Dynamic Income Fund

In other PIMCO Dynamic Income Fund news, Director Alan Rappaport acquired 5,500 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $13.76 per share, with a total value of $75,680.00. Following the purchase, the director directly owned 9,313 shares in the company, valued at approximately $128,146.88. This trade represents a 144.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Sonya Morris acquired 5,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average price of $14.02 per share, with a total value of $79,914.00. Following the completion of the transaction, the director directly owned 5,700 shares in the company, valued at approximately $79,914. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On PIMCO Dynamic Income Fund

Hedge funds have recently bought and sold shares of the stock. Sovran Advisors LLC boosted its holdings in shares of PIMCO Dynamic Income Fund by 1.3% during the first quarter. Sovran Advisors LLC now owns 45,337 shares of the company’s stock worth $791,000 after purchasing an additional 593 shares during the last quarter. Certified Advisory Corp increased its stake in PIMCO Dynamic Income Fund by 2.2% in the first quarter. Certified Advisory Corp now owns 30,705 shares of the company’s stock valued at $525,000 after purchasing an additional 650 shares during the last quarter. NewEdge Wealth LLC lifted its position in PIMCO Dynamic Income Fund by 1.9% during the first quarter. NewEdge Wealth LLC now owns 37,580 shares of the company’s stock worth $643,000 after buying an additional 712 shares during the period. Triumph Capital Management lifted its position in PIMCO Dynamic Income Fund by 6.7% during the second quarter. Triumph Capital Management now owns 14,386 shares of the company’s stock worth $240,000 after buying an additional 907 shares during the period. Finally, Kaizen Financial Strategies boosted its stake in PIMCO Dynamic Income Fund by 2.8% in the 1st quarter. Kaizen Financial Strategies now owns 37,053 shares of the company’s stock worth $641,000 after buying an additional 993 shares during the last quarter.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol PDI. The fund seeks to provide current income while also pursuing capital appreciation as a secondary objective. It is advised by Pacific Investment Management Company LLC (PIMCO), a global investment manager and a subsidiary of Allianz Group.

The fund invests primarily in a diversified portfolio of fixed-income instruments and other income-producing assets. Its holdings may include mortgage-related securities, high-yield and investment-grade corporate bonds, sovereign and emerging-market debt, bank loans, asset-backed securities and other credit investments.