PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Cross Below 200 Day Moving Average – Should You Sell?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.04 and traded as low as $11.87. PIMCO Corporate & Income Strategy Fund shares last traded at $11.9250, with a volume of 417,031 shares.

PIMCO Corporate & Income Strategy Fund Trading Down 0.8%

The firm’s 50-day simple moving average is $11.76 and its two-hundred day simple moving average is $12.04.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 11.4%.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PCN. Vermillion & White Wealth Management Group LLC acquired a new position in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter worth $26,000. Parallel Advisors LLC acquired a new stake in PIMCO Corporate & Income Strategy Fund in the 3rd quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in PIMCO Corporate & Income Strategy Fund in the 2nd quarter valued at about $41,000. Wilmington Savings Fund Society FSB increased its holdings in PIMCO Corporate & Income Strategy Fund by 91.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,192 shares of the investment management company’s stock valued at $53,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in PIMCO Corporate & Income Strategy Fund during the 1st quarter valued at about $69,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.