PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.88 and traded as low as $12.60. PIMCO Corporate & Income Strategy Fund shares last traded at $12.63, with a volume of 317,344 shares changing hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The firm has a fifty day simple moving average of $12.76 and a two-hundred day simple moving average of $12.88.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 10.7%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter worth about $3,875,000. Wells Fargo & Company MN raised its stake in PIMCO Corporate & Income Strategy Fund by 69.6% in the fourth quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock worth $4,866,000 after buying an additional 156,439 shares in the last quarter. Mission Hills Financial Advisory LLC lifted its holdings in PIMCO Corporate & Income Strategy Fund by 12.4% in the third quarter. Mission Hills Financial Advisory LLC now owns 1,179,322 shares of the investment management company’s stock worth $15,779,000 after buying an additional 129,950 shares during the period. Axxcess Wealth Management LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter worth about $1,492,000. Finally, Balyasny Asset Management L.P. bought a new stake in PIMCO Corporate & Income Strategy Fund during the 2nd quarter valued at approximately $1,463,000.

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.