PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below 200-Day Moving Average – Here’s Why

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.83 and traded as low as $11.85. PIMCO Corporate & Income Strategy Fund shares last traded at $11.9150, with a volume of 501,461 shares trading hands.

PIMCO Corporate & Income Strategy Fund Stock Performance

The business has a fifty day moving average of $12.63 and a two-hundred day moving average of $12.83.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a dividend of $0.1125 per share. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Large investors have recently modified their holdings of the stock. Mission Hills Financial Advisory LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 4.3% during the 4th quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock worth $15,694,000 after buying an additional 50,612 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 3.1% during the 2nd quarter. Guggenheim Capital LLC now owns 1,153,405 shares of the investment management company’s stock worth $14,637,000 after buying an additional 34,940 shares during the period. GHE LLC grew its stake in PIMCO Corporate & Income Strategy Fund by 2.9% in the 3rd quarter. GHE LLC now owns 626,007 shares of the investment management company’s stock valued at $8,376,000 after buying an additional 17,708 shares during the last quarter. LPL Financial LLC grew its stake in PIMCO Corporate & Income Strategy Fund by 10.4% in the 4th quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock valued at $7,313,000 after buying an additional 54,094 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in PIMCO Corporate & Income Strategy Fund by 1.7% in the 4th quarter. Invesco Ltd. now owns 475,794 shares of the investment management company’s stock valued at $6,071,000 after acquiring an additional 7,826 shares during the period.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.