PIMCO Dynamic Income Fund (NYSE:PDI) Stock Passes Below 50 Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.60 and traded as low as $14.29. PIMCO Dynamic Income Fund shares last traded at $14.4150, with a volume of 2,901,642 shares traded.

PIMCO Dynamic Income Fund Stock Performance

The firm’s 50-day simple moving average is $15.60 and its 200-day simple moving average is $16.55.

PIMCO Dynamic Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.2205 per share. The ex-dividend date is Friday, September 11th. This represents a c) annualized dividend and a yield of 18.4%.

Hedge Funds Weigh In On PIMCO Dynamic Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RFG Advisory LLC lifted its position in PIMCO Dynamic Income Fund by 61.1% in the second quarter. RFG Advisory LLC now owns 308,982 shares of the company’s stock valued at $5,160,000 after purchasing an additional 117,208 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of PIMCO Dynamic Income Fund by 11.9% during the second quarter. NewEdge Advisors LLC now owns 431,148 shares of the company’s stock valued at $7,200,000 after purchasing an additional 45,979 shares during the period. IFP Advisors Inc grew its holdings in shares of PIMCO Dynamic Income Fund by 8.2% in the second quarter. IFP Advisors Inc now owns 37,633 shares of the company’s stock worth $628,000 after purchasing an additional 2,863 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of PIMCO Dynamic Income Fund by 3.1% in the second quarter. Baird Financial Group Inc. now owns 72,852 shares of the company’s stock worth $1,217,000 after buying an additional 2,208 shares during the period. Finally, Allworth Financial LP increased its stake in shares of PIMCO Dynamic Income Fund by 62.5% in the second quarter. Allworth Financial LP now owns 21,024 shares of the company’s stock worth $351,000 after buying an additional 8,084 shares during the period.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (“PIMCO”), one of the world’s largest fixed-income asset managers. Listed on the New York Stock Exchange, PDI seeks to deliver attractive monthly income and capital appreciation by allocating across a broad array of global fixed-income markets.

The fund employs a dynamic, multi-sector approach, investing in a diversified mix of investment-grade and high-yield corporate bonds, bank loans, emerging-market debt, mortgage- and asset-backed securities, and U.S.