PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.27 and traded as low as $12.50. PIMCO Corporate & Income Strategy Fund shares last traded at $12.52, with a volume of 193,716 shares changing hands.

PIMCO Corporate & Income Strategy Fund Trading Down 1.0%

The firm has a fifty day moving average of $12.66 and a two-hundred day moving average of $13.27.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be issued a $0.1125 dividend. This represents a $1.35 annualized dividend and a yield of 10.79%. The ex-dividend date is Thursday, June 12th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Several institutional investors and hedge funds have recently bought and sold shares of PCN. Principal Securities Inc. increased its position in PIMCO Corporate & Income Strategy Fund by 7.3% during the 4th quarter. Principal Securities Inc. now owns 966,636 shares of the investment management company’s stock valued at $12,972,000 after buying an additional 65,867 shares in the last quarter. Private Advisor Group LLC increased its position in PIMCO Corporate & Income Strategy Fund by 28.6% during the 4th quarter. Private Advisor Group LLC now owns 74,195 shares of the investment management company’s stock valued at $996,000 after buying an additional 16,498 shares in the last quarter. GHE LLC increased its position in PIMCO Corporate & Income Strategy Fund by 22.8% during the 4th quarter. GHE LLC now owns 560,056 shares of the investment management company’s stock valued at $7,947,000 after buying an additional 104,001 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in PIMCO Corporate & Income Strategy Fund by 22.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,467 shares of the investment management company’s stock valued at $503,000 after buying an additional 6,912 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new position in PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at approximately $366,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.