PIMCO Dynamic Income Fund (NYSE:PDI) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $14.49 and traded as high as $14.81. PIMCO Dynamic Income Fund shares last traded at $14.7250, with a volume of 3,332,558 shares traded.

PIMCO Dynamic Income Fund Stock Performance

The company’s 50 day simple moving average is $14.49 and its 200-day simple moving average is $16.45.

PIMCO Dynamic Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.2205 per share. This represents a $2.65 annualized dividend and a dividend yield of 18.0%. The ex-dividend date of this dividend is Friday, November 13th.

Insider Buying and Selling at PIMCO Dynamic Income Fund

In other news, Director David C. Flattum bought 17,448 shares of the stock in a transaction on Tuesday, October 6th. The shares were bought at an average price of $14.30 per share, with a total value of $249,506.40. Following the completion of the acquisition, the director owned 17,448 shares in the company, valued at $249,506.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Rappaport acquired 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was acquired at an average cost of $13.76 per share, for a total transaction of $75,680.00. Following the acquisition, the director owned 9,313 shares of the company’s stock, valued at $128,146.88. The trade was a 144.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 34,348 shares of company stock valued at $486,724.

Hedge Funds Weigh In On PIMCO Dynamic Income Fund

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in PIMCO Dynamic Income Fund by 3.5% in the 1st quarter. Bank of America Corp DE now owns 3,038,182 shares of the company’s stock worth $51,983,000 after purchasing an additional 102,618 shares during the period. Cetera Investment Advisers grew its stake in shares of PIMCO Dynamic Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 1,708,064 shares of the company’s stock worth $29,225,000 after buying an additional 110,655 shares in the last quarter. Royal Bank of Canada grew its position in PIMCO Dynamic Income Fund by 10.5% in the first quarter. Royal Bank of Canada now owns 1,537,452 shares of the company’s stock worth $26,306,000 after acquiring an additional 146,246 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in PIMCO Dynamic Income Fund by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,385,039 shares of the company’s stock valued at $23,164,000 after buying an additional 82,214 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its position in PIMCO Dynamic Income Fund by 2.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 949,054 shares of the company’s stock valued at $13,315,000 after acquiring an additional 21,602 shares during the last quarter.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide current income as its primary objective and capital appreciation as a secondary objective.

PDI invests in a diversified portfolio of income-generating securities across global fixed-income markets. Its investments may include corporate debt, high-yield bonds, emerging-market securities, mortgage-related instruments, asset-backed securities, and other debt obligations.