PIMCO Strategic Income Fund (NYSE:RCS) Shares Pass Below Fifty Day Moving Average – Here’s Why

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.42 and traded as low as $5.19. PIMCO Strategic Income Fund shares last traded at $5.20, with a volume of 125,041 shares traded.

PIMCO Strategic Income Fund Stock Down 1.9%

The company has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.58.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given a $0.04 dividend. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Investors Weigh In On PIMCO Strategic Income Fund

Institutional investors have recently made changes to their positions in the company. Silver Oak Securities Incorporated bought a new stake in PIMCO Strategic Income Fund during the fourth quarter valued at $603,000. Fifth Third Bancorp bought a new position in shares of PIMCO Strategic Income Fund in the 1st quarter worth about $28,000. Virtu Financial LLC bought a new position in shares of PIMCO Strategic Income Fund in the 4th quarter worth about $121,000. Jane Street Group LLC acquired a new position in shares of PIMCO Strategic Income Fund in the 4th quarter valued at about $112,000. Finally, Straight Path Wealth Management boosted its holdings in shares of PIMCO Strategic Income Fund by 23.9% in the 4th quarter. Straight Path Wealth Management now owns 38,900 shares of the investment management company’s stock valued at $217,000 after buying an additional 7,500 shares during the period. 13.48% of the stock is currently owned by institutional investors.

About PIMCO Strategic Income Fund

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.