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

PIMCO Income Strategy Fund (NYSE:PFL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.44 and traded as low as $8.38. PIMCO Income Strategy Fund shares last traded at $8.41, with a volume of 134,063 shares trading hands.

PIMCO Income Strategy Fund Stock Performance

The firm’s 50 day simple moving average is $8.42 and its 200 day simple moving average is $8.44.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be paid a $0.0814 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) annualized dividend and a yield of 11.6%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Pointe Advisors LLC purchased a new stake in PIMCO Income Strategy Fund in the 4th quarter worth approximately $174,000. Guggenheim Capital LLC grew its position in PIMCO Income Strategy Fund by 23.6% during the 4th quarter. Guggenheim Capital LLC now owns 983,056 shares of the investment management company’s stock valued at $8,287,000 after purchasing an additional 187,978 shares during the last quarter. Cetera Investment Advisers increased its stake in PIMCO Income Strategy Fund by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 173,467 shares of the investment management company’s stock valued at $1,462,000 after purchasing an additional 4,504 shares in the last quarter. Osaic Holdings Inc. raised its holdings in PIMCO Income Strategy Fund by 21.4% in the fourth quarter. Osaic Holdings Inc. now owns 232,807 shares of the investment management company’s stock worth $1,963,000 after buying an additional 41,091 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its stake in shares of PIMCO Income Strategy Fund by 47.2% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 20,472 shares of the investment management company’s stock worth $173,000 after buying an additional 6,560 shares in the last quarter.

About PIMCO Income Strategy Fund

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.