PIMCO Income Strategy Fund II (NYSE:PFN) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of PIMCO Income Strategy Fund II (NYSE:PFN) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.98 and traded as high as $7.09. PIMCO Income Strategy Fund II shares last traded at $7.0430, with a volume of 289,864 shares traded.

PIMCO Income Strategy Fund II Price Performance

The firm has a 50-day moving average price of $6.98 and a 200-day moving average price of $7.08.

PIMCO Income Strategy Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.0718 per share. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a dividend yield of 12.2%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund II

A number of institutional investors have recently added to or reduced their stakes in PFN. Concurrent Investment Advisors LLC bought a new stake in shares of PIMCO Income Strategy Fund II during the 4th quarter valued at $2,340,000. Keudell Morrison Wealth Management bought a new position in shares of PIMCO Income Strategy Fund II in the 4th quarter worth about $703,000. Independent Financial Group LLC bought a new position in shares of PIMCO Income Strategy Fund II in the 1st quarter worth about $499,000. Simplicity Wealth LLC purchased a new position in PIMCO Income Strategy Fund II during the 4th quarter valued at about $603,000. Finally, Shaker Financial Services LLC purchased a new position in PIMCO Income Strategy Fund II during the 4th quarter valued at about $794,000.

PIMCO Income Strategy Fund II Company Profile

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.