PIMCO Strategic Income Fund (NYSE:RCS) Shares Pass Above 50 Day Moving Average – Time to Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.43 and traded as high as $5.54. PIMCO Strategic Income Fund shares last traded at $5.4660, with a volume of 79,992 shares trading hands.

PIMCO Strategic Income Fund Price Performance

The company has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.77.

PIMCO Strategic Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be given a $0.04 dividend. This represents a c) annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RCS. Comerica Bank boosted its position in shares of PIMCO Strategic Income Fund by 959.0% in the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock worth $33,000 after purchasing an additional 4,795 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of PIMCO Strategic Income Fund by 2.3% in the 2nd quarter. Cetera Investment Advisers now owns 72,983 shares of the investment management company’s stock worth $508,000 after purchasing an additional 1,674 shares during the last quarter. First Trust Advisors LP bought a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter worth $85,000. StoneX Group Inc. bought a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter worth $72,000. Finally, Benjamin Edwards Inc. boosted its position in shares of PIMCO Strategic Income Fund by 5.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 425,434 shares of the investment management company’s stock worth $2,961,000 after purchasing an additional 20,093 shares during the last quarter. 13.48% of the stock is currently owned by institutional investors.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.