PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Large Drop in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 227,233 shares, a decrease of 52.1% from the March 15th total of 474,037 shares. Based on an average daily volume of 491,529 shares, the short-interest ratio is presently 0.5 days.

PIMCO Corporate & Income Strategy Fund Trading Down 0.3%

Shares of NYSE PCN opened at $12.09 on Friday. PIMCO Corporate & Income Strategy Fund has a one year low of $11.40 and a one year high of $13.49. The firm’s 50 day simple moving average is $12.33 and its two-hundred day simple moving average is $12.67.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be given a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Monday, April 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank grew its position in PIMCO Corporate & Income Strategy Fund by 14.5% during the third quarter. Comerica Bank now owns 7,710 shares of the investment management company’s stock valued at $103,000 after acquiring an additional 979 shares during the last quarter. Westbourne Investment Advisors Inc. grew its position in PIMCO Corporate & Income Strategy Fund by 2.0% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 51,500 shares of the investment management company’s stock valued at $657,000 after acquiring an additional 1,000 shares during the last quarter. Janney Montgomery Scott LLC grew its position in PIMCO Corporate & Income Strategy Fund by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 58,613 shares of the investment management company’s stock valued at $748,000 after acquiring an additional 1,090 shares during the last quarter. UBS Group AG grew its position in PIMCO Corporate & Income Strategy Fund by 1.6% during the third quarter. UBS Group AG now owns 89,566 shares of the investment management company’s stock valued at $1,198,000 after acquiring an additional 1,408 shares during the last quarter. Finally, Elevated Capital Advisors LLC grew its position in PIMCO Corporate & Income Strategy Fund by 0.4% during the fourth quarter. Elevated Capital Advisors LLC now owns 362,611 shares of the investment management company’s stock valued at $4,627,000 after acquiring an additional 1,443 shares during the last quarter.

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.