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

PIMCO Dynamic Income Fund (NYSE:PDI) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $14.41 and traded as low as $14.34. PIMCO Dynamic Income Fund shares last traded at $14.3820, with a volume of 3,572,501 shares changing hands.

PIMCO Dynamic Income Fund Trading Down 2.0%

The firm’s fifty day moving average is $14.41 and its 200-day moving average is $16.33.

PIMCO Dynamic Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.2205 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.65 dividend on an annualized basis and a yield of 18.4%.

Insiders Place Their Bets

In other PIMCO Dynamic Income Fund news, Director Sonya Morris bought 5,700 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were acquired at an average cost of $14.32 per share, for a total transaction of $81,624.00. Following the transaction, the director directly owned 11,400 shares in the company, valued at approximately $163,248. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Rappaport purchased 5,500 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of $13.76 per share, with a total value of $75,680.00. Following the purchase, the director owned 9,313 shares of the company’s stock, valued at approximately $128,146.88. This trade represents a 144.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 34,348 shares of company stock valued at $486,724.

Institutional Trading of PIMCO Dynamic Income Fund

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of PIMCO Dynamic Income Fund by 3.5% in the 1st quarter. Bank of America Corp DE now owns 3,038,182 shares of the company’s stock worth $51,983,000 after acquiring an additional 102,618 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of PIMCO Dynamic Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 1,708,064 shares of the company’s stock valued at $29,225,000 after purchasing an additional 110,655 shares during the period. Royal Bank of Canada lifted its stake in shares of PIMCO Dynamic Income Fund by 10.5% in the 1st quarter. Royal Bank of Canada now owns 1,537,452 shares of the company’s stock valued at $26,306,000 after purchasing an additional 146,246 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of PIMCO Dynamic Income Fund by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,385,039 shares of the company’s stock valued at $23,164,000 after purchasing an additional 82,214 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its position in shares of PIMCO Dynamic Income Fund by 2.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 949,054 shares of the company’s stock valued at $13,315,000 after purchasing an additional 21,602 shares in the last quarter.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide current income as its primary objective and capital appreciation as a secondary objective. PDI invests in a diversified portfolio of income-generating securities across global fixed-income markets. Its investments may include corporate debt, high-yield bonds, emerging-market securities, mortgage-related instruments, asset-backed securities, and other debt obligations.