PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.36 and traded as low as $5.80. PIMCO Strategic Income Fund shares last traded at $5.8750, with a volume of 286,329 shares trading hands.

PIMCO Strategic Income Fund Stock Down 1.8%

The firm’s fifty day simple moving average is $6.36 and its 200-day simple moving average is $6.93.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Tuesday, January 13th will be issued a $0.04 dividend. This represents a c) dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Tuesday, January 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank increased its holdings in 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 buying an additional 4,795 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of PIMCO Strategic Income Fund in the second quarter worth approximately $72,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of PIMCO Strategic Income Fund during the second quarter valued at approximately $80,000. First Trust Advisors LP purchased a new position in shares of PIMCO Strategic Income Fund during the second quarter valued at approximately $85,000. Finally, Barnes Wealth Management Group Inc boosted its holdings in PIMCO Strategic Income Fund by 23.7% in the second quarter. Barnes Wealth Management Group Inc now owns 20,875 shares of the investment management company’s stock worth $145,000 after purchasing an additional 4,000 shares during the last quarter. 13.48% of the stock is 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.