PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.86 and traded as low as $12.75. PIMCO Corporate & Income Strategy Fund shares last traded at $12.7650, with a volume of 235,181 shares.

PIMCO Corporate & Income Strategy Fund Price Performance

The firm has a 50-day moving average of $12.68 and a 200-day moving average of $12.86.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Tuesday, January 13th will be paid a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Tuesday, January 13th.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank lifted its stake in PIMCO Corporate & Income Strategy Fund by 14.5% during the 3rd quarter. Comerica Bank now owns 7,710 shares of the investment management company’s stock valued at $103,000 after acquiring an additional 979 shares during the period. Westbourne Investment Advisors Inc. lifted its position in PIMCO Corporate & Income Strategy Fund by 2.0% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 51,500 shares of the investment management company’s stock valued at $657,000 after purchasing an additional 1,000 shares during the period. International Assets Investment Management LLC boosted its holdings in PIMCO Corporate & Income Strategy Fund by 1.6% in the second quarter. International Assets Investment Management LLC now owns 79,503 shares of the investment management company’s stock valued at $1,009,000 after purchasing an additional 1,244 shares during the last quarter. UBS Group AG grew its position in PIMCO Corporate & Income Strategy Fund by 1.6% during the 3rd quarter. UBS Group AG now owns 89,566 shares of the investment management company’s stock worth $1,198,000 after purchasing an additional 1,408 shares during the period. Finally, Elevated Capital Advisors LLC grew its position in PIMCO Corporate & Income Strategy Fund by 0.4% during the 4th quarter. Elevated Capital Advisors LLC now owns 362,611 shares of the investment management company’s stock worth $4,627,000 after purchasing an additional 1,443 shares during the period.

About PIMCO Corporate & Income Strategy Fund

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.