PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.77 and traded as low as $11.40. PIMCO Corporate & Income Strategy Fund shares last traded at $11.4450, with a volume of 522,046 shares.

PIMCO Corporate & Income Strategy Fund Stock Performance

The stock has a 50 day moving average price of $12.49 and a two-hundred day moving average price of $12.77.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be given a dividend of $0.1125 per share. This represents a c) annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

Several large investors have recently added to or reduced their stakes in PCN. Steward Partners Investment Advisory LLC bought a new stake in PIMCO Corporate & Income Strategy Fund in the second quarter worth approximately $156,000. Invesco Ltd. raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 9.6% during the 2nd quarter. Invesco Ltd. now owns 449,815 shares of the investment management company’s stock valued at $5,708,000 after purchasing an additional 39,540 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 3.1% in the 2nd quarter. Guggenheim Capital LLC now owns 1,153,405 shares of the investment management company’s stock valued at $14,637,000 after purchasing an additional 34,940 shares during the last quarter. StoneX Group Inc. lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 5.4% in the 2nd quarter. StoneX Group Inc. now owns 46,501 shares of the investment management company’s stock valued at $592,000 after purchasing an additional 2,385 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in PIMCO Corporate & Income Strategy Fund by 72.0% in the second quarter. Peapack Gladstone Financial Corp now owns 29,578 shares of the investment management company’s stock worth $375,000 after purchasing an additional 12,378 shares in the last quarter.

PIMCO Corporate & Income Strategy Fund Company Profile

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.