PIMCO Access Income Fund (NYSE:PAXS) Shares Up 1.1% – What’s Next?

PIMCO Access Income Fund (NYSE:PAXS) shot up 1.1% during trading on Wednesday . The stock traded as high as $14.24 and last traded at $14.1740. 198,726 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 251,983 shares. The stock had previously closed at $14.02.

PIMCO Access Income Fund Stock Performance

The firm’s 50 day moving average is $15.40 and its two-hundred day moving average is $15.70.

PIMCO Access Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.1494 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Thursday, March 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PAXS. Janney Montgomery Scott LLC lifted its stake in PIMCO Access Income Fund by 1.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 42,273 shares of the company’s stock valued at $647,000 after buying an additional 643 shares during the last quarter. Comerica Bank increased its holdings in shares of PIMCO Access Income Fund by 2.8% in the 4th quarter. Comerica Bank now owns 28,637 shares of the company’s stock worth $438,000 after acquiring an additional 779 shares during the period. Cetera Investment Advisers lifted its position in PIMCO Access Income Fund by 6.9% in the 4th quarter. Cetera Investment Advisers now owns 25,849 shares of the company’s stock valued at $395,000 after purchasing an additional 1,678 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in PIMCO Access Income Fund by 3.7% during the 3rd quarter. Journey Strategic Wealth LLC now owns 56,650 shares of the company’s stock valued at $922,000 after purchasing an additional 2,000 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in PIMCO Access Income Fund during the 4th quarter valued at about $34,000.

PIMCO Access Income Fund Company Profile

The PIMCO Access Income Fund (NYSE:PAXS) is an actively managed, closed-end management investment company sponsored by Pacific Investment Management Company LLC (“PIMCO”). The fund seeks to provide current income, with a secondary objective of capital appreciation, by investing primarily in a diversified portfolio of global fixed income and income-related securities.

PAXS employs a broad credit strategy that spans corporate debt, structured finance instruments and emerging market debt.