PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.84 and traded as low as $12.62. PIMCO Corporate & Income Strategy Fund shares last traded at $12.6650, with a volume of 389,923 shares.

PIMCO Corporate & Income Strategy Fund Price Performance

The stock has a 50-day moving average price of $12.73 and a two-hundred day moving average price of $12.84.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.1125 per share. The ex-dividend date is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank grew its position 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 worth $103,000 after purchasing an additional 979 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 1.6% during the second quarter. International Assets Investment Management LLC now owns 79,503 shares of the investment management company’s stock worth $1,009,000 after buying an additional 1,244 shares during the period. UBS Group AG grew its holdings in shares of PIMCO Corporate & Income Strategy Fund by 1.6% during the third quarter. UBS Group AG now owns 89,566 shares of the investment management company’s stock valued at $1,198,000 after buying an additional 1,408 shares during the last quarter. Focus Partners Wealth increased its position in shares of PIMCO Corporate & Income Strategy Fund by 7.9% in the 3rd quarter. Focus Partners Wealth now owns 20,737 shares of the investment management company’s stock valued at $277,000 after acquiring an additional 1,517 shares during the period. Finally, Prosperity Wealth Management Inc. raised its stake in PIMCO Corporate & Income Strategy Fund by 11.2% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 16,874 shares of the investment management company’s stock worth $226,000 after acquiring an additional 1,701 shares during the last quarter.

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.