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

Shares of PIMCO Income Strategy Fund (NYSE:PFL) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.08 and traded as low as $7.80. PIMCO Income Strategy Fund shares last traded at $7.83, with a volume of 213,917 shares changing hands.

PIMCO Income Strategy Fund Trading Up 0.0%

The stock’s 50-day moving average is $7.77 and its 200-day moving average is $8.08.

PIMCO Income Strategy Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a dividend of $0.0814 per share. This represents a c) annualized dividend and a dividend yield of 12.5%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO Income Strategy Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFL. International Assets Investment Management LLC acquired a new stake in shares of PIMCO Income Strategy Fund in the 4th quarter valued at about $29,000. Highline Wealth Partners LLC grew its stake in PIMCO Income Strategy Fund by 1,114.3% in the fourth quarter. Highline Wealth Partners LLC now owns 4,250 shares of the investment management company’s stock worth $36,000 after purchasing an additional 3,900 shares in the last quarter. Sprinkle Financial Consultants LLC acquired a new position in PIMCO Income Strategy Fund in the first quarter worth about $80,000. Jane Street Group LLC bought a new stake in PIMCO Income Strategy Fund in the first quarter valued at about $94,000. Finally, CoreCap Advisors LLC increased its holdings in PIMCO Income Strategy Fund by 47.9% in the second quarter. CoreCap Advisors LLC now owns 12,345 shares of the investment management company’s stock valued at $97,000 after buying an additional 4,000 shares during the last quarter.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.