PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.89 and traded as low as $12.77. PIMCO Corporate & Income Strategy Fund shares last traded at $12.7920, with a volume of 305,046 shares.

PIMCO Corporate & Income Strategy Fund Price Performance

The stock’s 50-day moving average price is $12.75 and its 200 day moving average price is $12.89.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a $0.1125 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 10.6%.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

A number of large investors have recently made changes to their positions in PCN. Mission Hills Financial Advisory LLC lifted its position in PIMCO Corporate & Income Strategy Fund by 4.3% during the fourth quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock worth $15,694,000 after buying an additional 50,612 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 3.1% during the 2nd quarter. Guggenheim Capital LLC now owns 1,153,405 shares of the investment management company’s stock worth $14,637,000 after acquiring an additional 34,940 shares during the period. GHE LLC boosted its position in shares of PIMCO Corporate & Income Strategy Fund by 2.9% during the 3rd quarter. GHE LLC now owns 626,007 shares of the investment management company’s stock valued at $8,376,000 after acquiring an additional 17,708 shares during the last quarter. LPL Financial LLC grew its holdings in shares of PIMCO Corporate & Income Strategy Fund by 10.4% in the fourth quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock valued at $7,313,000 after purchasing an additional 54,094 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of PIMCO Corporate & Income Strategy Fund by 4.0% in the third quarter. Invesco Ltd. now owns 467,968 shares of the investment management company’s stock valued at $6,261,000 after purchasing an additional 18,153 shares during the period.

PIMCO Corporate & Income Strategy Fund Company Profile

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.