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

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.43 and traded as low as $8.26. PIMCO Income Strategy Fund shares last traded at $8.3050, with a volume of 239,967 shares traded.

PIMCO Income Strategy Fund Stock Down 1.7%

The business has a fifty day moving average of $8.39 and a 200-day moving average of $8.43.

PIMCO Income Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a dividend of $0.0814 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 12.2%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. StoneX Group Inc. raised its holdings in shares of PIMCO Income Strategy Fund by 73.5% in the fourth quarter. StoneX Group Inc. now owns 39,898 shares of the investment management company’s stock valued at $338,000 after acquiring an additional 16,903 shares in the last quarter. Jane Street Group LLC grew its holdings in PIMCO Income Strategy Fund by 105.5% during the 2nd quarter. Jane Street Group LLC now owns 22,413 shares of the investment management company’s stock worth $187,000 after acquiring an additional 11,504 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in PIMCO Income Strategy Fund during the 4th quarter worth about $174,000. Northwestern Mutual Wealth Management Co. increased its position in PIMCO Income Strategy Fund by 20.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,998 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 3,446 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its position in PIMCO Income Strategy Fund by 47.2% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 20,472 shares of the investment management company’s stock valued at $173,000 after purchasing an additional 6,560 shares during the period.

PIMCO Income Strategy Fund Company Profile

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.