PIMCO Income Strategy Fund (NYSE:PFL) Sees Significant Drop in Short Interest

PIMCO Income Strategy Fund (NYSE:PFL) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 42,560 shares, a decline of 81.8% from the September 15th total of 234,300 shares. Based on an average daily trading volume, of 361,874 shares, the days-to-cover ratio is currently 0.1 days.

PIMCO Income Strategy Fund Price Performance

PIMCO Income Strategy Fund stock traded down $0.03 during midday trading on Monday, hitting $6.92. 197,237 shares of the company’s stock were exchanged, compared to its average volume of 222,739. The stock has a 50-day moving average price of $7.38 and a two-hundred day moving average price of $7.67. PIMCO Income Strategy Fund has a 52-week low of $6.74 and a 52-week high of $8.63.

PIMCO Income Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.0814 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date is Tuesday, October 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PFL. Integrated Wealth Concepts LLC bought a new position in shares of PIMCO Income Strategy Fund in the second quarter worth approximately $75,000. Fortitude Advisory Group L.L.C. raised its stake in PIMCO Income Strategy Fund by 30.6% in the second quarter. Fortitude Advisory Group L.L.C. now owns 26,745 shares of the investment management company’s stock valued at $211,000 after purchasing an additional 6,273 shares in the last quarter. Tudor Financial Inc. bought a new stake in PIMCO Income Strategy Fund during the second quarter valued at approximately $116,000. TD Waterhouse Canada Inc. lifted its position in PIMCO Income Strategy Fund by 68.1% during the second quarter. TD Waterhouse Canada Inc. now owns 41,665 shares of the investment management company’s stock valued at $329,000 after purchasing an additional 16,880 shares during the last quarter. Finally, IMC Chicago LLC bought a new stake in PIMCO Income Strategy Fund during the second quarter valued at approximately $252,000.

About PIMCO Income Strategy Fund

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end investment company managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities and related investments.

PFL may invest across global credit and bond markets, including corporate debt, government and sovereign obligations, mortgage-related securities, asset-backed securities, emerging-market debt and below-investment-grade securities.