PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.88 and traded as low as $11.64. PIMCO Corporate & Income Strategy Fund shares last traded at $11.6450, with a volume of 324,388 shares.

PIMCO Corporate & Income Strategy Fund Trading Down 0.9%

The business’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $11.87.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.1125 per share. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

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

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.