PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Passes Below 200-Day Moving Average – Time to Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.10 and traded as low as $11.54. PIMCO Corporate & Income Strategy Fund shares last traded at $11.6350, with a volume of 390,289 shares changing hands.

PIMCO Corporate & Income Strategy Fund Trading Down 0.4%

The business has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $12.10.

PIMCO Corporate & Income Strategy Fund Announces Dividend

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 paid a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Institutional investors have recently bought and sold shares of the company. Rivernorth Capital Management LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at $3,875,000. Wells Fargo & Company MN grew its stake in PIMCO Corporate & Income Strategy Fund by 69.6% during the 4th quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock worth $4,866,000 after buying an additional 156,439 shares during the last quarter. Invesco Ltd. increased its position in PIMCO Corporate & Income Strategy Fund by 9.6% during the 2nd quarter. Invesco Ltd. now owns 449,815 shares of the investment management company’s stock valued at $5,708,000 after buying an additional 39,540 shares in the last quarter. LPL Financial LLC increased its position in PIMCO Corporate & Income Strategy Fund by 10.4% during the 4th quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock valued at $7,313,000 after buying an additional 54,094 shares in the last quarter. Finally, Marex Group plc purchased a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at about $561,000.

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.