PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Short Interest Up 80.0% in July

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 156,299 shares, a growth of 80.0% from the July 15th total of 86,814 shares. Based on an average daily volume of 287,640 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

A number of hedge funds and other institutional investors have recently modified their holdings of PCN. Invesco Ltd. increased its position in PIMCO Corporate & Income Strategy Fund by 9.6% during the second quarter. Invesco Ltd. now owns 449,815 shares of the investment management company’s stock worth $5,708,000 after purchasing an additional 39,540 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in PIMCO Corporate & Income Strategy Fund by 72.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 29,578 shares of the investment management company’s stock valued at $375,000 after purchasing an additional 12,378 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 2nd quarter valued at approximately $551,000. Bank of America Corp DE grew its stake in shares of PIMCO Corporate & Income Strategy Fund by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 244,615 shares of the investment management company’s stock valued at $3,104,000 after buying an additional 11,660 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 2nd quarter worth approximately $1,463,000.

PIMCO Corporate & Income Strategy Fund Stock Down 0.3%

Shares of PCN traded down $0.04 during mid-day trading on Friday, hitting $11.78. 310,505 shares of the company were exchanged, compared to its average volume of 349,579. PIMCO Corporate & Income Strategy Fund has a 1-year low of $11.40 and a 1-year high of $13.49. The company has a 50 day moving average of $11.76 and a 200-day moving average of $12.03.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be given a $0.1125 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%.

PIMCO Corporate & Income Strategy Fund Company Profile

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.