PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.26 and traded as low as $11.74. PIMCO Corporate & Income Strategy Fund shares last traded at $11.7950, with a volume of 250,611 shares trading hands.

PIMCO Corporate & Income Strategy Fund Trading Up 0.6%

The firm has a fifty day moving average of $11.83 and a 200 day moving average of $12.25.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.1125 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PCN. Rivernorth Capital Management LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter worth about $3,875,000. Wells Fargo & Company MN grew its position in shares of PIMCO Corporate & Income Strategy Fund by 69.6% in the 4th quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock worth $4,866,000 after acquiring an additional 156,439 shares in the last quarter. Astoria Portfolio Advisors LLC. acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 1st quarter worth approximately $1,524,000. GHE LLC increased its holdings in shares of PIMCO Corporate & Income Strategy Fund by 19.5% in the 1st quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock valued at $8,902,000 after acquiring an additional 122,079 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at approximately $1,492,000.

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.