PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.69 and traded as low as $5.78. PIMCO Strategic Income Fund shares last traded at $5.7990, with a volume of 332,789 shares traded.

PIMCO Strategic Income Fund Trading Up 4.1%

The business’s 50 day moving average price is $6.69 and its 200-day moving average price is $7.03.

PIMCO Strategic Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 2nd. Investors of record on Thursday, December 11th were issued a dividend of $0.04 per share. This represents a c) dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend was Thursday, December 11th.

Institutional Trading of PIMCO Strategic Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its position in PIMCO Strategic Income Fund by 21.0% during the third quarter. Susquehanna International Group LLP now owns 29,893 shares of the investment management company’s stock worth $227,000 after buying an additional 5,192 shares during the period. Zacks Investment Management purchased a new position in PIMCO Strategic Income Fund in the 3rd quarter valued at approximately $152,000. Raymond James Financial Inc. raised its holdings in PIMCO Strategic Income Fund by 28.1% during the third quarter. Raymond James Financial Inc. now owns 58,209 shares of the investment management company’s stock worth $442,000 after purchasing an additional 12,781 shares during the last quarter. Equitable Holdings Inc. grew its holdings in PIMCO Strategic Income Fund by 73.2% in the third quarter. Equitable Holdings Inc. now owns 37,955 shares of the investment management company’s stock valued at $288,000 after purchasing an additional 16,047 shares during the last quarter. Finally, UBS Group AG increased its position in shares of PIMCO Strategic Income Fund by 1.1% in the third quarter. UBS Group AG now owns 391,220 shares of the investment management company’s stock valued at $2,969,000 after buying an additional 4,313 shares in the last quarter. Institutional investors and hedge funds own 13.48% of the company’s stock.

About PIMCO Strategic Income Fund

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.