PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Trading 0.7% Higher After Dividend Announcement

Shares of PIMCO Dynamic Income Strategy Fund (NYSE:PDX) shot up 0.7% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $24.25 and last traded at $23.97. 122,485 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 131,020 shares. The stock had previously closed at $23.81.

The newly announced dividend which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be paid a $0.1334 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.60 annualized dividend and a yield of 6.68%.

PIMCO Dynamic Income Strategy Fund Stock Up 0.7%

The company’s 50 day moving average is $22.04 and its 200-day moving average is $24.60.

Insider Buying and Selling at PIMCO Dynamic Income Strategy Fund

In other news, major shareholder Saba Capital Management, L.P. sold 13,837 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $24.98, for a total transaction of $345,648.26. Following the transaction, the insider now directly owns 7,528,097 shares of the company’s stock, valued at approximately $188,051,863.06. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Saba Capital Management L.P. lifted its holdings in shares of PIMCO Dynamic Income Strategy Fund by 8.5% during the fourth quarter. Saba Capital Management L.P. now owns 6,810,213 shares of the company’s stock worth $177,951,000 after purchasing an additional 535,290 shares during the period. Ieq Capital LLC bought a new position in PIMCO Dynamic Income Strategy Fund during the first quarter worth $51,282,000. Thomas J. Herzfeld Advisors Inc. raised its stake in PIMCO Dynamic Income Strategy Fund by 9.9% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,641,558 shares of the company’s stock worth $40,284,000 after buying an additional 148,469 shares during the last quarter. Cohen & Steers Inc. raised its stake in PIMCO Dynamic Income Strategy Fund by 5.4% during the fourth quarter. Cohen & Steers Inc. now owns 1,166,776 shares of the company’s stock worth $30,488,000 after buying an additional 60,000 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in PIMCO Dynamic Income Strategy Fund by 4.4% in the fourth quarter. Royal Bank of Canada now owns 1,000,118 shares of the company’s stock valued at $26,133,000 after purchasing an additional 41,799 shares in the last quarter.