PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Breaks Below Fifty Day Moving Average – Time to Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s share price crossed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $5.09 and traded as low as $4.87. PIMCO Strategic Income Fund shares last traded at $4.8960, with a volume of 176,353 shares.

PIMCO Strategic Income Fund Price Performance

The stock’s fifty day moving average is $5.08 and its two-hundred day moving average is $5.27.

PIMCO Strategic Income Fund Dividend Announcement

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 issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Tuesday, October 13th.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in PIMCO Strategic Income Fund during the 2nd quarter valued at $41,000. Readystate Asset Management LP acquired a new position in PIMCO Strategic Income Fund during the 2nd quarter worth $185,000. Ameritas Advisory Services LLC boosted its position in PIMCO Strategic Income Fund by 81.2% during the 2nd quarter. Ameritas Advisory Services LLC now owns 45,127 shares of the investment management company’s stock worth $246,000 after acquiring an additional 20,218 shares during the period. Continuum Advisory LLC bought a new position in shares of PIMCO Strategic Income Fund in the second quarter worth $43,000. Finally, Susquehanna International Group LLP bought a new position in shares of PIMCO Strategic Income Fund in the second quarter worth $107,000. 13.48% of the stock is currently owned by institutional investors and hedge funds.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end fund 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 primarily in a diversified portfolio of fixed-income securities.

The fund may invest across global bond markets, including government and sovereign debt, corporate bonds, mortgage- and asset-backed securities, emerging-market debt, and other income-producing instruments.