Pimco Dynamic Credit and MortggeIncmFund (NYSE:PCI) Stock Price Passes Below 50-Day Moving Average of $23.86

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Pimco Dynamic Credit and MortggeIncmFund (NYSE:PCI) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $23.86 and traded as low as $24.34. Pimco Dynamic Credit and MortggeIncmFund shares last traded at $24.44, with a volume of 2,036 shares changing hands.

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be issued a $0.164 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.97 annualized dividend and a yield of 8.05%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Management Inc. raised its holdings in shares of Pimco Dynamic Credit and MortggeIncmFund by 22.1% during the 1st quarter. B. Riley Wealth Management Inc. now owns 58,163 shares of the company’s stock valued at $1,363,000 after buying an additional 10,535 shares during the period. Brick & Kyle Associates acquired a new stake in Pimco Dynamic Credit and MortggeIncmFund during the 1st quarter worth $203,000. Finally, First Trust Advisors LP raised its stake in Pimco Dynamic Credit and MortggeIncmFund by 1.8% during the 1st quarter. First Trust Advisors LP now owns 214,628 shares of the company’s stock worth $5,029,000 after buying an additional 3,746 shares during the period.

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About Pimco Dynamic Credit and MortggeIncmFund (NYSE:PCI)

PIMCO Dynamic Credit and Mortgage Income Fund is a closed end fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets across the globe. The fund utilizes a dynamic asset allocation approach and seeks to invest in multiple fixed-income sectors in the global credit markets, including corporate debt, mortgage-related and other asset-backed securities, government and sovereign debt, taxable municipal bonds and other fixed, variable and floating rate income producing securities.

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