PIMCO Global StocksPLUS & Income Fund (NYSE:PGP) Stock Price Breaks Below 50-Day Moving Average – Time to Sell?

PIMCO Global StocksPLUS & Income Fund (NYSE:PGP) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $8.45 and traded as low as $7.95. PIMCO Global StocksPLUS & Income Fund shares last traded at $8.0540, with a volume of 78,915 shares.

PIMCO Global StocksPLUS & Income Fund Price Performance

The company’s 50 day moving average price is $8.45 and its two-hundred day moving average price is $8.62.

PIMCO Global StocksPLUS & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a dividend of $0.0690 per share. This represents a $0.83 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Tuesday, October 13th.

Hedge Funds Weigh In On PIMCO Global StocksPLUS & Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new position in PIMCO Global StocksPLUS & Income Fund during the first quarter worth $128,000. Argyle Capital Partners LLC purchased a new stake in PIMCO Global StocksPLUS & Income Fund in the 2nd quarter valued at $121,000. Rivernorth Capital Management LLC increased its stake in shares of PIMCO Global StocksPLUS & Income Fund by 1.0% in the 2nd quarter. Rivernorth Capital Management LLC now owns 349,408 shares of the company’s stock worth $3,012,000 after acquiring an additional 3,457 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of PIMCO Global StocksPLUS & Income Fund by 44.6% in the 2nd quarter. CoreCap Advisors LLC now owns 10,700 shares of the company’s stock worth $92,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of PIMCO Global StocksPLUS & Income Fund by 4.6% during the 1st quarter. Cetera Investment Advisers now owns 31,282 shares of the company’s stock worth $261,000 after acquiring an additional 1,387 shares during the period.

About PIMCO Global StocksPLUS & Income Fund

PIMCO Global StocksPLUS & Income Fund (NYSE: PGP) is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide investors with a combination of current income and long-term capital appreciation through exposure to global equity and fixed-income markets.

PGP uses PIMCO’s StocksPLUS strategy, which generally combines a portfolio of fixed-income investments with derivatives or other instruments designed to provide exposure to equity markets.