PIMCO Strategic Income Fund, Inc. (NYSE:RCS) Sees Significant Drop in Short Interest

PIMCO Strategic Income Fund, Inc. (NYSE:RCS) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 427,674 shares, a drop of 14.5% from the February 12th total of 500,116 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 132,566 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 132,566 shares, the short-interest ratio is currently 3.2 days. Approximately 0.9% of the shares of the company are short sold.

PIMCO Strategic Income Fund Stock Down 2.0%

RCS traded down $0.12 on Wednesday, hitting $5.59. The company’s stock had a trading volume of 148,044 shares, compared to its average volume of 197,121. PIMCO Strategic Income Fund has a 12 month low of $5.25 and a 12 month high of $8.00. The company’s 50 day simple moving average is $5.85 and its 200-day simple moving average is $6.60.

PIMCO Strategic Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.04 per share. This represents a c) dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in shares of PIMCO Strategic Income Fund by 2.8% in the second quarter. Osaic Holdings Inc. now owns 962,911 shares of the investment management company’s stock worth $6,702,000 after buying an additional 26,234 shares during the period. Benjamin Edwards Inc. boosted its position in shares of PIMCO Strategic Income Fund by 2.5% during the third quarter. Benjamin Edwards Inc. now owns 436,098 shares of the investment management company’s stock valued at $3,310,000 after purchasing an additional 10,664 shares in the last quarter. UBS Group AG grew its position in shares of PIMCO Strategic Income Fund by 4.4% in the 4th quarter. UBS Group AG now owns 408,267 shares of the investment management company’s stock worth $2,274,000 after buying an additional 17,047 shares during the period. LPL Financial LLC grew its holdings in PIMCO Strategic Income Fund by 30.6% in the fourth quarter. LPL Financial LLC now owns 369,581 shares of the investment management company’s stock worth $2,059,000 after purchasing an additional 86,529 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of PIMCO Strategic Income Fund by 7.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 176,318 shares of the investment management company’s stock worth $1,227,000 after purchasing an additional 11,560 shares in the last quarter. 13.48% of the stock is currently owned by hedge funds and other institutional investors.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.