PIMCO Income Strategy Fund II (NYSE:PFN) Shares Cross Above 50 Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund II (NYSE:PFN)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.94 and traded as high as $7.00. PIMCO Income Strategy Fund II shares last traded at $6.9850, with a volume of 322,483 shares changing hands.

PIMCO Income Strategy Fund II Price Performance

The stock’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $7.22.

PIMCO Income Strategy Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a $0.0718 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.

Institutional Investors Weigh In On PIMCO Income Strategy Fund II

Large investors have recently modified their holdings of the company. Highline Wealth Partners LLC increased its position in shares of PIMCO Income Strategy Fund II by 1,030.3% in the 4th quarter. Highline Wealth Partners LLC now owns 3,730 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 3,400 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of PIMCO Income Strategy Fund II in the 1st quarter valued at approximately $28,000. Comerica Bank increased its position in shares of PIMCO Income Strategy Fund II by 45.8% in the 3rd quarter. Comerica Bank now owns 4,375 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,375 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of PIMCO Income Strategy Fund II in the 1st quarter valued at approximately $53,000. Finally, Advisory Services Network LLC purchased a new stake in shares of PIMCO Income Strategy Fund II in the 3rd quarter valued at approximately $76,000.

PIMCO Income Strategy Fund II Company Profile

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.