PIMCO Income Strategy Fund (NYSE:PFL) Share Price Passes Below 200-Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund (NYSE:PFL) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.42 and traded as low as $7.91. PIMCO Income Strategy Fund shares last traded at $7.98, with a volume of 332,909 shares traded.

PIMCO Income Strategy Fund Stock Down 0.7%

The company has a 50-day simple moving average of $8.35 and a two-hundred day simple moving average of $8.42.

PIMCO Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be issued a $0.0814 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PFL. GraniteShares Advisors LLC acquired a new position in PIMCO Income Strategy Fund during the 4th quarter valued at about $2,739,000. Hohimer Wealth Management LLC increased its stake in shares of PIMCO Income Strategy Fund by 2,058.7% in the fourth quarter. Hohimer Wealth Management LLC now owns 256,970 shares of the investment management company’s stock valued at $2,166,000 after purchasing an additional 245,066 shares during the period. Guggenheim Capital LLC raised its holdings in shares of PIMCO Income Strategy Fund by 23.6% during the fourth quarter. Guggenheim Capital LLC now owns 983,056 shares of the investment management company’s stock valued at $8,287,000 after buying an additional 187,978 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of PIMCO Income Strategy Fund during the third quarter valued at approximately $1,005,000. Finally, Ameriprise Financial Inc. boosted its position in shares of PIMCO Income Strategy Fund by 42.2% during the third quarter. Ameriprise Financial Inc. now owns 334,062 shares of the investment management company’s stock worth $2,808,000 after buying an additional 99,096 shares during the period.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.