PIMCO Strategic Income Fund (NYSE:RCS) Shares Cross Above 50-Day Moving Average – Should You Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.42 and traded as high as $5.54. PIMCO Strategic Income Fund shares last traded at $5.53, with a volume of 276,214 shares trading hands.

PIMCO Strategic Income Fund Stock Performance

The company’s 50 day moving average price is $5.42 and its 200-day moving average price is $5.82.

PIMCO Strategic Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be given a dividend of $0.04 per share. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new stake in shares of PIMCO Strategic Income Fund in the first quarter valued at about $28,000. Comerica Bank lifted its stake in shares of PIMCO Strategic Income Fund by 959.0% in the first quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock worth $33,000 after acquiring an additional 4,795 shares during the period. Keudell Morrison Wealth Management bought a new stake in PIMCO Strategic Income Fund in the fourth quarter valued at approximately $56,000. Allworth Financial LP boosted its holdings in PIMCO Strategic Income Fund by 785.5% in the fourth quarter. Allworth Financial LP now owns 12,725 shares of the investment management company’s stock valued at $71,000 after acquiring an additional 11,288 shares during the last quarter. Finally, StoneX Group Inc. acquired a new stake in PIMCO Strategic Income Fund during the 2nd quarter valued at approximately $72,000. 13.48% of the stock is owned by institutional investors and hedge funds.

About PIMCO Strategic Income Fund

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.