PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Stock Falls 1.1% – Time to Sell?

PIMCO Dynamic Income Strategy Fund (NYSE:PDX) shares were down 1.1% during mid-day trading on Wednesday. The stock traded as low as $20.11 and last traded at $20.1820. Approximately 140,927 shares changed hands during trading, an increase of 7% from the average daily volume of 131,317 shares. The stock had previously closed at $20.40.

PIMCO Dynamic Income Strategy Fund Trading Up 1.2%

The stock’s fifty day moving average price is $21.42 and its 200-day moving average price is $21.23.

PIMCO Dynamic Income Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $0.1334 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.60 dividend on an annualized basis and a yield of 7.9%.

Insiders Place Their Bets

In related news, insider Greg Elliot Sharenow bought 6,020 shares of the stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average cost of $21.77 per share, for a total transaction of $131,055.40. Following the acquisition, the insider directly owned 50,124 shares in the company, valued at approximately $1,091,199.48. This trade represents a 13.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 19,692 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $20.66, for a total value of $406,836.72. Following the completion of the sale, the insider owned 6,331,840 shares of the company’s stock, valued at $130,815,814.40. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 84,247 shares of company stock valued at $1,816,987 in the last ninety days.

Hedge Funds Weigh In On PIMCO Dynamic Income Strategy Fund

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in PIMCO Dynamic Income Strategy Fund by 1.9% in the 1st quarter. Royal Bank of Canada now owns 978,814 shares of the company’s stock valued at $21,593,000 after buying an additional 18,343 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of PIMCO Dynamic Income Strategy Fund by 24.0% during the 1st quarter. Bank of America Corp DE now owns 772,043 shares of the company’s stock worth $17,031,000 after acquiring an additional 149,447 shares during the period. Hollencrest Capital Management boosted its position in shares of PIMCO Dynamic Income Strategy Fund by 0.7% during the 1st quarter. Hollencrest Capital Management now owns 484,764 shares of the company’s stock valued at $10,694,000 after acquiring an additional 3,188 shares during the last quarter. Altium Capital Management LLC boosted its position in shares of PIMCO Dynamic Income Strategy Fund by 4.4% during the 1st quarter. Altium Capital Management LLC now owns 157,700 shares of the company’s stock valued at $3,479,000 after acquiring an additional 6,693 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of PIMCO Dynamic Income Strategy Fund by 15.2% in the first quarter. First Trust Advisors LP now owns 118,998 shares of the company’s stock valued at $2,625,000 after purchasing an additional 15,705 shares during the period.

PIMCO Dynamic Income Strategy Fund (NYSE:PDX) is a diversified, closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). Launched in 2011, the fund seeks to deliver high current income and capital appreciation by investing in a broad range of fixed income securities. As a closed-end vehicle, PDX trades on the NYSE and employs leverage to enhance its income potential, while adhering to its investment objective under varying market conditions.

The fund’s strategy centers on a flexible allocation among global debt markets, encompassing investment-grade and high-yield corporate bonds, U.S.