PIMCO Income Strategy Fund (NYSE:PFL) Shares Cross Below 200 Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.42 and traded as low as $8.34. PIMCO Income Strategy Fund shares last traded at $8.36, with a volume of 199,351 shares changing hands.

PIMCO Income Strategy Fund Stock Performance

The stock has a 50-day simple moving average of $8.40 and a 200 day simple moving average of $8.42.

PIMCO Income Strategy Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be given a dividend of $0.0814 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 11.7%.

Institutional Investors Weigh In On PIMCO Income Strategy Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of PIMCO Income Strategy Fund by 1.0% during the 1st quarter. Invesco Ltd. now owns 307,144 shares of the investment management company’s stock valued at $2,641,000 after acquiring an additional 3,001 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PIMCO Income Strategy Fund by 18.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,912 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 1,863 shares during the last quarter. Royal Bank of Canada boosted its holdings in PIMCO Income Strategy Fund by 9.6% in the first quarter. Royal Bank of Canada now owns 167,070 shares of the investment management company’s stock worth $1,437,000 after purchasing an additional 14,645 shares in the last quarter. Jane Street Group LLC bought a new stake in PIMCO Income Strategy Fund in the first quarter worth $94,000. Finally, Integrity Alliance LLC. increased its position in PIMCO Income Strategy Fund by 42.1% during the first quarter. Integrity Alliance LLC. now owns 14,890 shares of the investment management company’s stock worth $128,000 after buying an additional 4,412 shares during the last quarter.

About PIMCO Income Strategy Fund

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.