PIMCO Income Strategy Fund (NYSE:PFL) Stock Crosses Below 200-Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.06 and traded as low as $7.78. PIMCO Income Strategy Fund shares last traded at $7.8050, with a volume of 1,860,422 shares changing hands.

PIMCO Income Strategy Fund Trading Down 0.6%

The business’s 50-day moving average price is $7.75 and its 200 day moving average price is $8.06.

PIMCO Income Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.0814 per share. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Monday, July 13th.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of PIMCO Income Strategy Fund during the 4th quarter valued at about $29,000. Highline Wealth Partners LLC grew its holdings in shares of PIMCO Income Strategy Fund by 1,114.3% during the fourth quarter. Highline Wealth Partners LLC now owns 4,250 shares of the investment management company’s stock worth $36,000 after purchasing an additional 3,900 shares in the last quarter. Sprinkle Financial Consultants LLC bought a new position in shares of PIMCO Income Strategy Fund in the first quarter worth approximately $80,000. Jane Street Group LLC bought a new position in shares of PIMCO Income Strategy Fund in the first quarter worth approximately $94,000. Finally, CoreCap Advisors LLC increased its position in shares of PIMCO Income Strategy Fund by 47.9% in the second quarter. CoreCap Advisors LLC now owns 12,345 shares of the investment management company’s stock worth $97,000 after purchasing an additional 4,000 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.