Independent Financial Group LLC Purchases New Stake in PIMCO Income Strategy Fund II $PFN

Independent Financial Group LLC acquired a new position in PIMCO Income Strategy Fund II (NYSE:PFN) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 72,433 shares of the financial services provider’s stock, valued at approximately $499,000.

A number of other institutional investors have also recently bought and sold shares of PFN. Concurrent Investment Advisors LLC bought a new position in shares of PIMCO Income Strategy Fund II in the fourth quarter worth about $2,340,000. Keudell Morrison Wealth Management bought a new stake in PIMCO Income Strategy Fund II during the 4th quarter valued at approximately $703,000. Simplicity Wealth LLC bought a new stake in PIMCO Income Strategy Fund II during the 4th quarter valued at approximately $603,000. Shaker Financial Services LLC purchased a new position in PIMCO Income Strategy Fund II in the 4th quarter worth approximately $794,000. Finally, Moors & Cabot Inc. lifted its holdings in PIMCO Income Strategy Fund II by 49.8% in the 3rd quarter. Moors & Cabot Inc. now owns 81,816 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 27,187 shares in the last quarter.

PIMCO Income Strategy Fund II Stock Performance

PFN stock opened at $7.00 on Friday. PIMCO Income Strategy Fund II has a 1-year low of $6.53 and a 1-year high of $7.67. The business has a 50 day simple moving average of $6.96 and a two-hundred day simple moving average of $7.09.

PIMCO Income Strategy Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be issued a $0.0718 dividend. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Monday, July 13th.

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.