PIMCO Income Strategy Fund (NYSE:PFL) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of PIMCO Income Strategy Fund (NYSE:PFL) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.42 and traded as low as $7.91. PIMCO Income Strategy Fund shares last traded at $7.98, with a volume of 332,909 shares trading hands.

PIMCO Income Strategy Fund Price Performance

The business’s fifty day simple moving average is $8.35 and its 200 day simple moving average is $8.42.

PIMCO Income Strategy Fund Announces Dividend

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 $0.0814 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in PIMCO Income Strategy Fund by 9.6% during the 1st quarter. Royal Bank of Canada now owns 167,070 shares of the investment management company’s stock worth $1,437,000 after purchasing an additional 14,645 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of PIMCO Income Strategy Fund during the 1st quarter valued at approximately $94,000. Allworth Financial LP acquired a new stake in shares of PIMCO Income Strategy Fund during the second quarter worth approximately $34,000. Cetera Investment Advisers increased its stake in shares of PIMCO Income Strategy Fund by 44.8% in the second quarter. Cetera Investment Advisers now owns 144,500 shares of the investment management company’s stock worth $1,205,000 after buying an additional 44,717 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of PIMCO Income Strategy Fund by 27.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,142 shares of the investment management company’s stock worth $126,000 after buying an additional 3,230 shares during the last quarter.

About PIMCO Income Strategy Fund

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.