PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.21 and traded as low as $11.83. PIMCO Corporate & Income Strategy Fund shares last traded at $11.8450, with a volume of 251,502 shares.

PIMCO Corporate & Income Strategy Fund Stock Performance

The stock has a 50 day moving average price of $11.80 and a two-hundred day moving average price of $12.21.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a $0.1125 dividend. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 11.4%.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Noble Wealth Management PBC grew its position in PIMCO Corporate & Income Strategy Fund by 2.9% in the second quarter. Noble Wealth Management PBC now owns 349,637 shares of the investment management company’s stock worth $4,178,000 after acquiring an additional 9,901 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 69.0% during the 1st quarter. Rathbones Group PLC now owns 24,500 shares of the investment management company’s stock valued at $292,000 after purchasing an additional 10,000 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund during the 1st quarter valued at $144,000. Sunbelt Securities Inc. acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 1st quarter valued at $69,000. Finally, Rivernorth Capital Management LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 17.0% in the 1st quarter. Rivernorth Capital Management LLC now owns 355,256 shares of the investment management company’s stock valued at $4,228,000 after purchasing an additional 51,607 shares during the last quarter.

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.