Short Interest in PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Drops By 36.5%

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 144,271 shares, a drop of 36.5% from the March 31st total of 227,233 shares. Based on an average daily trading volume, of 357,455 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC purchased a new position in PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at about $26,000. Parallel Advisors LLC purchased a new position in PIMCO Corporate & Income Strategy Fund in the third quarter valued at about $27,000. Aspect Partners LLC acquired a new position in PIMCO Corporate & Income Strategy Fund during the third quarter worth $39,000. Fifth Third Bancorp acquired a new position in PIMCO Corporate & Income Strategy Fund during the third quarter worth $40,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in PIMCO Corporate & Income Strategy Fund by 91.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,192 shares of the investment management company’s stock worth $53,000 after purchasing an additional 2,000 shares during the last quarter.

PIMCO Corporate & Income Strategy Fund Stock Down 0.0%

Shares of PCN traded down $0.01 during mid-day trading on Thursday, hitting $12.02. The company’s stock had a trading volume of 54,210 shares, compared to its average volume of 372,817. The firm has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $12.55. PIMCO Corporate & Income Strategy Fund has a 1-year low of $11.40 and a 1-year high of $13.49.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Monday, April 13th will be issued a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Monday, April 13th.

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.