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

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.87 and traded as low as $12.24. PIMCO Corporate & Income Strategy Fund shares last traded at $12.3250, with a volume of 387,043 shares changing hands.

PIMCO Corporate & Income Strategy Fund Stock Performance

The business has a 50 day moving average of $12.72 and a 200-day moving average of $12.87.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.1125 per share. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC acquired a new position in PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at $3,875,000. Wells Fargo & Company MN boosted its stake in shares of PIMCO Corporate & Income Strategy Fund by 69.6% during the fourth 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 period. Mission Hills Financial Advisory LLC grew its holdings in shares of PIMCO Corporate & Income Strategy Fund by 12.4% during the third quarter. Mission Hills Financial Advisory LLC now owns 1,179,322 shares of the investment management company’s stock worth $15,779,000 after buying an additional 129,950 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund during the fourth quarter worth about $1,492,000. Finally, Balyasny Asset Management L.P. acquired a new position in PIMCO Corporate & Income Strategy Fund in the 2nd quarter valued at about $1,463,000.

About PIMCO Corporate & Income Strategy Fund

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.