PIMCO Strategic Income Fund (NYSE:RCS) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.43 and traded as high as $5.54. PIMCO Strategic Income Fund shares last traded at $5.4660, with a volume of 79,992 shares trading hands.

PIMCO Strategic Income Fund Stock Up 0.2%

The business has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.76.

PIMCO Strategic Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

Several large investors have recently made changes to their positions in RCS. Comerica Bank grew its position in PIMCO Strategic Income Fund by 959.0% during the first quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock valued at $33,000 after buying an additional 4,795 shares during the period. Fifth Third Bancorp purchased a new stake in shares of PIMCO Strategic Income Fund during the 1st quarter worth about $28,000. Keudell Morrison Wealth Management acquired a new stake in shares of PIMCO Strategic Income Fund during the 4th quarter valued at about $56,000. StoneX Group Inc. purchased a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter valued at about $72,000. Finally, First Trust Advisors LP purchased a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter valued at about $85,000. 13.48% of the stock is currently owned by institutional investors and hedge funds.

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.