PIMCO Strategic Income Fund (NYSE:RCS) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.00 and traded as low as $5.28. PIMCO Strategic Income Fund shares last traded at $5.3140, with a volume of 225,467 shares changing hands.

PIMCO Strategic Income Fund Stock Performance

The stock has a 50 day moving average of $5.43 and a 200 day moving average of $5.98.

PIMCO Strategic Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.04 dividend. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Monday, May 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RCS. Silver Oak Securities Incorporated acquired a new position in PIMCO Strategic Income Fund during the 4th quarter worth $603,000. Marex Group plc acquired a new position in PIMCO Strategic Income Fund during the 4th quarter worth $571,000. Goldman Sachs Group Inc. bought a new stake in shares of PIMCO Strategic Income Fund in the 4th quarter worth $526,000. LPL Financial LLC raised its stake in shares of PIMCO Strategic Income Fund by 30.6% in the 4th quarter. LPL Financial LLC now owns 369,581 shares of the investment management company’s stock worth $2,059,000 after buying an additional 86,529 shares in the last quarter. Finally, Milestone Asset Management LLC raised its stake in shares of PIMCO Strategic Income Fund by 38.3% in the 4th quarter. Milestone Asset Management LLC now owns 172,517 shares of the investment management company’s stock worth $961,000 after buying an additional 47,767 shares in the last quarter. Institutional investors and hedge funds own 13.48% of the company’s stock.

About PIMCO Strategic Income Fund

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.