PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Passes Below 200-Day Moving Average – Here’s Why

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.88 and traded as low as $12.86. PIMCO Corporate & Income Strategy Fund shares last traded at $12.88, with a volume of 401,014 shares trading hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The company’s fifty day moving average price is $12.72 and its 200 day moving average price is $12.88.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company 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 $0.1125 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 10.5%.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

A number of institutional investors and hedge funds have recently bought and sold shares of PCN. Mission Hills Financial Advisory LLC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 4.3% in the fourth quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock valued at $15,694,000 after acquiring an additional 50,612 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 3.1% during the second quarter. Guggenheim Capital LLC now owns 1,153,405 shares of the investment management company’s stock valued at $14,637,000 after acquiring an additional 34,940 shares during the period. GHE LLC lifted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 2.9% in the third quarter. GHE LLC now owns 626,007 shares of the investment management company’s stock valued at $8,376,000 after purchasing an additional 17,708 shares in the last quarter. Invesco Ltd. boosted its position in PIMCO Corporate & Income Strategy Fund by 4.0% during the 3rd quarter. Invesco Ltd. now owns 467,968 shares of the investment management company’s stock worth $6,261,000 after acquiring an additional 18,153 shares during the period. Finally, Noble Wealth Management PBC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 2.0% during the fourth quarter. Noble Wealth Management PBC now owns 371,459 shares of the investment management company’s stock worth $4,740,000 after purchasing an additional 7,391 shares during the period.

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.