PIMCO Access Income Fund (NYSE:PAXS) Shares Down 0.8% – What’s Next?

PIMCO Access Income Fund (NYSE:PAXS)’s share price was down 0.8% during trading on Monday . The stock traded as low as $14.31 and last traded at $14.3390. Approximately 233,133 shares were traded during trading, an increase of 4% from the average daily volume of 223,213 shares. The stock had previously closed at $14.45.

PIMCO Access Income Fund Stock Performance

The company has a 50-day moving average of $14.35 and a 200 day moving average of $15.15.

PIMCO Access Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a dividend of $0.1494 per share. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Monday, May 11th.

Hedge Funds Weigh In On PIMCO Access Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAXS. Thomas J. Herzfeld Advisors Inc. grew its position in PIMCO Access Income Fund by 55.3% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 747,910 shares of the company’s stock worth $11,443,000 after buying an additional 266,473 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of PIMCO Access Income Fund by 12.5% in the 1st quarter. Royal Bank of Canada now owns 1,152,845 shares of the company’s stock worth $16,612,000 after purchasing an additional 127,806 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in shares of PIMCO Access Income Fund in the 1st quarter worth about $1,362,000. Bank of America Corp DE boosted its holdings in shares of PIMCO Access Income Fund by 21.1% in the 2nd quarter. Bank of America Corp DE now owns 374,892 shares of the company’s stock worth $5,665,000 after purchasing an additional 65,266 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of PIMCO Access Income Fund in the 4th quarter worth about $801,000.

About PIMCO Access Income Fund

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.