PIMCO Dynamic Income Fund (NYSE:PDI) Stock Price Passes Below 50 Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.22 and traded as low as $18.11. PIMCO Dynamic Income Fund shares last traded at $18.12, with a volume of 1,920,556 shares traded.

PIMCO Dynamic Income Fund Price Performance

The business has a 50-day simple moving average of $18.22 and a two-hundred day simple moving average of $18.66.

PIMCO Dynamic Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th will be issued a $0.2205 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 14.6%.

Hedge Funds Weigh In On PIMCO Dynamic Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in PIMCO Dynamic Income Fund during the first quarter worth about $359,000. Integrated Wealth Concepts LLC boosted its holdings in shares of PIMCO Dynamic Income Fund by 106.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 27,432 shares of the company’s stock worth $543,000 after acquiring an additional 14,166 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in PIMCO Dynamic Income Fund during the 2nd quarter worth approximately $603,000. Envestnet Asset Management Inc. grew its position in PIMCO Dynamic Income Fund by 2.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 342,615 shares of the company’s stock worth $6,499,000 after acquiring an additional 8,387 shares during the last quarter. Finally, GWN Securities Inc. acquired a new stake in PIMCO Dynamic Income Fund during the 2nd quarter valued at $369,000.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (“PIMCO”), one of the world’s largest fixed-income asset managers. Listed on the New York Stock Exchange, PDI seeks to deliver attractive monthly income and capital appreciation by allocating across a broad array of global fixed-income markets.

The fund employs a dynamic, multi-sector approach, investing in a diversified mix of investment-grade and high-yield corporate bonds, bank loans, emerging-market debt, mortgage- and asset-backed securities, and U.S.