PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below 200-Day Moving Average – What’s Next?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.77 and traded as low as $11.40. PIMCO Corporate & Income Strategy Fund shares last traded at $11.4450, with a volume of 522,046 shares trading hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The firm has a 50 day moving average of $12.49 and a 200-day moving average of $12.77.

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 issued a $0.1125 dividend. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its position in PIMCO Corporate & Income Strategy Fund by 1.7% during the fourth quarter. Invesco Ltd. now owns 475,794 shares of the investment management company’s stock valued at $6,071,000 after purchasing an additional 7,826 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in PIMCO Corporate & Income Strategy Fund in the 4th quarter valued at approximately $1,492,000. Smith Asset Management Co. LLC lifted its position in PIMCO Corporate & Income Strategy Fund by 18.6% in the 4th quarter. Smith Asset Management Co. LLC now owns 227,754 shares of the investment management company’s stock worth $2,906,000 after buying an additional 35,690 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund in the 4th quarter worth approximately $26,000. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at $3,875,000.

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.