PIMCO Strategic Income Fund (NYSE:RCS) Share Price Passes Below 50 Day Moving Average – Should You Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.48 and traded as low as $6.09. PIMCO Strategic Income Fund shares last traded at $6.12, with a volume of 139,679 shares.

PIMCO Strategic Income Fund Trading Down 0.1%

The stock’s 50-day simple moving average is $6.44 and its 200-day simple moving average is $6.96.

PIMCO Strategic Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Tuesday, January 13th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a c) dividend on an annualized basis and a yield of 7.9%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in shares of PIMCO Strategic Income Fund by 959.0% during the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock worth $33,000 after purchasing an additional 4,795 shares in the last quarter. Straight Path Wealth Management lifted its position in PIMCO Strategic Income Fund by 6.8% during the second quarter. Straight Path Wealth Management now owns 31,400 shares of the investment management company’s stock worth $219,000 after purchasing an additional 2,000 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in PIMCO Strategic Income Fund during the second quarter worth about $80,000. Envestnet Asset Management Inc. increased its holdings in PIMCO Strategic Income Fund by 7.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 176,318 shares of the investment management company’s stock valued at $1,227,000 after buying an additional 11,560 shares during the period. Finally, Cetera Investment Advisers increased its holdings in PIMCO Strategic Income Fund by 2.3% in the 2nd quarter. Cetera Investment Advisers now owns 72,983 shares of the investment management company’s stock valued at $508,000 after buying an additional 1,674 shares during the period. 13.48% of the stock is owned by institutional investors and hedge funds.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.