PIMCO Income Strategy Fund (NYSE:PFL) Share Price Passes Above Fifty Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.81 and traded as high as $7.88. PIMCO Income Strategy Fund shares last traded at $7.87, with a volume of 233,930 shares changing hands.

PIMCO Income Strategy Fund Trading Down 0.4%

The stock has a 50-day moving average price of $7.80 and a 200-day moving average price of $8.10.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a $0.0814 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend is Monday, July 13th.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of PIMCO Income Strategy Fund by 9.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 16,552 shares of the investment management company’s stock worth $141,000 after buying an additional 1,410 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of PIMCO Income Strategy Fund by 9.3% during the 4th quarter. PFG Investments LLC now owns 23,500 shares of the investment management company’s stock worth $198,000 after acquiring an additional 2,000 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of PIMCO Income Strategy Fund by 7.2% during the 2nd quarter. Raymond James Financial Inc. now owns 42,755 shares of the investment management company’s stock worth $357,000 after acquiring an additional 2,864 shares during the last quarter. International Assets Investment Management LLC purchased a new position in PIMCO Income Strategy Fund in the fourth quarter worth $29,000. Finally, Highline Wealth Partners LLC grew its position in PIMCO Income Strategy Fund by 1,114.3% in the fourth quarter. Highline Wealth Partners LLC now owns 4,250 shares of the investment management company’s stock worth $36,000 after acquiring an additional 3,900 shares in 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.