PIMCO Dynamic Income Fund (NYSE:PDI) Stock Passes Below Fifty Day Moving Average of $32.15

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PIMCO Dynamic Income Fund (NYSE:PDI)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $32.15 and traded as low as $33.03. PIMCO Dynamic Income Fund shares last traded at $33.04, with a volume of 300 shares trading hands.

The firm also recently declared a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.221 per share. This represents a $2.65 annualized dividend and a dividend yield of 7.98%. The ex-dividend date of this dividend is Wednesday, June 12th.

An institutional investor recently raised its position in PIMCO Dynamic Income Fund stock. Merit Financial Group LLC grew its position in PIMCO Dynamic Income Fund (NYSE:PDI) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,268 shares of the company’s stock after acquiring an additional 3,900 shares during the period. PIMCO Dynamic Income Fund accounts for 0.3% of Merit Financial Group LLC’s portfolio, making the stock its 17th largest holding. Merit Financial Group LLC’s holdings in PIMCO Dynamic Income Fund were worth $2,270,000 at the end of the most recent quarter.

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PIMCO Dynamic Income Fund Company Profile (NYSE:PDI)

PIMCO Dynamic Income Fund is a close ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in multiple fixed-income sectors, including non-agency residential and commercial mortgage-backed securities and below investment-grade securities.

Further Reading: What is the Moving Average Convergence Divergence (MACD) oscillator?

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