PIMCO Income Strategy Fund (NYSE:PFL) Share Price Passes Below 200-Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.06 and traded as low as $7.78. PIMCO Income Strategy Fund shares last traded at $7.8050, with a volume of 1,860,422 shares.

PIMCO Income Strategy Fund Price Performance

The stock has a fifty day moving average price of $7.75 and a two-hundred day moving average price of $8.06.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.0814 per share. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Monday, July 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of PIMCO Income Strategy Fund during the fourth quarter worth about $29,000. Highline Wealth Partners LLC raised its position in shares of PIMCO Income Strategy Fund by 1,114.3% in the fourth quarter. Highline Wealth Partners LLC now owns 4,250 shares of the investment management company’s stock valued at $36,000 after buying an additional 3,900 shares during the last quarter. Sprinkle Financial Consultants LLC purchased a new position in shares of PIMCO Income Strategy Fund during the first quarter valued at approximately $80,000. Jane Street Group LLC purchased a new position in shares of PIMCO Income Strategy Fund during the first quarter valued at approximately $94,000. Finally, CoreCap Advisors LLC boosted its position in PIMCO Income Strategy Fund by 47.9% during the second quarter. CoreCap Advisors LLC now owns 12,345 shares of the investment management company’s stock worth $97,000 after acquiring an additional 4,000 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.