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

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 295,766 shares, an increase of 89.2% from the July 30th total of 156,299 shares. Based on an average daily volume of 372,934 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at $26,000. Parallel Advisors LLC acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 3rd quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 2nd quarter valued at about $41,000. Wilmington Savings Fund Society FSB boosted its stake in shares of PIMCO Corporate & Income Strategy Fund by 91.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,192 shares of the investment management company’s stock worth $53,000 after buying an additional 2,000 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund in the second quarter worth about $63,000.

PIMCO Corporate & Income Strategy Fund Price Performance

NYSE PCN remained flat at $11.78 during trading hours on Friday. The company had a trading volume of 189,321 shares, compared to its average volume of 347,473. The company’s 50-day moving average is $11.76 and its two-hundred day moving average is $11.95. PIMCO Corporate & Income Strategy Fund has a 52-week low of $11.40 and a 52-week high of $13.49.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

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

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.