PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Stock Price Down 1.4% – Should You Sell?

Shares of PIMCO Dynamic Income Strategy Fund (NYSE:PDX) were down 1.4% on Monday . The company traded as low as $19.86 and last traded at $19.8840. Approximately 129,922 shares traded hands during trading, a decline of 50% from the average daily volume of 262,111 shares. The stock had previously closed at $20.16.

PIMCO Dynamic Income Strategy Fund Price Performance

The firm’s fifty day moving average price is $20.42 and its 200-day moving average price is $22.54.

PIMCO Dynamic Income Strategy Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Shareholders of record on Tuesday, January 13th were paid a $0.1334 dividend. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date was Tuesday, January 13th.

Insider Activity

In other news, Director Alan Rappaport bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average cost of $18.97 per share, with a total value of $37,940.00. Following the transaction, the director directly owned 3,000 shares in the company, valued at $56,910. This trade represents a 200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 38,170 shares of PIMCO Dynamic Income Strategy Fund stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $21.82, for a total value of $832,869.40. Following the transaction, the insider directly owned 6,796,130 shares in the company, valued at approximately $148,291,556.60. This trade represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing.

Hedge Funds Weigh In On PIMCO Dynamic Income Strategy Fund

A number of hedge funds have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC purchased a new stake in PIMCO Dynamic Income Strategy Fund in the 3rd quarter valued at $112,000. Spirepoint Private Client LLC acquired a new position in PIMCO Dynamic Income Strategy Fund in the fourth quarter valued at $194,000. Convergence Financial LLC acquired a new position in PIMCO Dynamic Income Strategy Fund in the third quarter valued at $230,000. Adapt Wealth Advisors LLC purchased a new stake in shares of PIMCO Dynamic Income Strategy Fund in the third quarter valued at about $247,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of PIMCO Dynamic Income Strategy Fund during the third quarter worth about $255,000.

PIMCO Dynamic Income Strategy Fund (NYSE:PDX) is a diversified, closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). Launched in 2011, the fund seeks to deliver high current income and capital appreciation by investing in a broad range of fixed income securities. As a closed-end vehicle, PDX trades on the NYSE and employs leverage to enhance its income potential, while adhering to its investment objective under varying market conditions.

The fund’s strategy centers on a flexible allocation among global debt markets, encompassing investment-grade and high-yield corporate bonds, U.S.