PIMCO Income Strategy Fund (NYSE:PFL) Stock Crosses Below 200-Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.19 and traded as low as $7.60. PIMCO Income Strategy Fund shares last traded at $7.6550, with a volume of 257,088 shares traded.

PIMCO Income Strategy Fund Price Performance

The firm’s 50-day moving average is $7.91 and its 200 day moving average is $8.19.

PIMCO Income Strategy Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a $0.0814 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Guggenheim Capital LLC raised its position in PIMCO Income Strategy Fund by 23.6% in the 4th quarter. Guggenheim Capital LLC now owns 983,056 shares of the investment management company’s stock valued at $8,287,000 after buying an additional 187,978 shares during the last quarter. Independent Financial Group LLC acquired a new stake in shares of PIMCO Income Strategy Fund in the first quarter valued at approximately $4,192,000. LPL Financial LLC raised its holdings in shares of PIMCO Income Strategy Fund by 18.2% in the fourth quarter. LPL Financial LLC now owns 497,728 shares of the investment management company’s stock valued at $4,196,000 after purchasing an additional 76,686 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of PIMCO Income Strategy Fund by 42.2% in the third quarter. Ameriprise Financial Inc. now owns 334,062 shares of the investment management company’s stock worth $2,808,000 after purchasing an additional 99,096 shares in the last quarter. Finally, GraniteShares Advisors LLC acquired a new position in PIMCO Income Strategy Fund during the fourth quarter worth $2,739,000.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.