PIMCO Income Strategy Fund II (NYSE:PFN) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

PIMCO Income Strategy Fund II (NYSE:PFN) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.25 and traded as low as $6.74. PIMCO Income Strategy Fund II shares last traded at $6.7750, with a volume of 868,814 shares.

PIMCO Income Strategy Fund II Stock Performance

The firm has a 50 day moving average price of $6.95 and a 200-day moving average price of $7.25.

PIMCO Income Strategy Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be paid a dividend of $0.0718 per share. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 12.6%.

Institutional Trading of PIMCO Income Strategy Fund II

Several hedge funds have recently added to or reduced their stakes in PFN. Steward Partners Investment Advisory LLC boosted its stake in PIMCO Income Strategy Fund II by 39,179.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,479,247 shares of the financial services provider’s stock valued at $11,094,000 after purchasing an additional 1,475,481 shares during the period. Wells Fargo & Company MN boosted its stake in PIMCO Income Strategy Fund II by 67.1% during the 4th quarter. Wells Fargo & Company MN now owns 782,179 shares of the financial services provider’s stock valued at $5,866,000 after purchasing an additional 314,150 shares during the period. Concurrent Investment Advisors LLC bought a new stake in PIMCO Income Strategy Fund II during the 4th quarter valued at approximately $2,340,000. Royal Bank of Canada boosted its stake in PIMCO Income Strategy Fund II by 404.2% during the 1st quarter. Royal Bank of Canada now owns 378,002 shares of the financial services provider’s stock valued at $2,605,000 after purchasing an additional 303,031 shares during the period. Finally, Bank of America Corp DE boosted its stake in PIMCO Income Strategy Fund II by 243.4% during the 1st quarter. Bank of America Corp DE now owns 400,642 shares of the financial services provider’s stock valued at $2,760,000 after purchasing an additional 283,970 shares during the period.

About PIMCO Income Strategy Fund II

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.