PIMCO Strategic Income Fund (NYSE:RCS) Shares Pass Above 50 Day Moving Average – Time to Sell?

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.43 and traded as high as $5.54. PIMCO Strategic Income Fund shares last traded at $5.4660, with a volume of 79,992 shares traded.

PIMCO Strategic Income Fund Stock Down 0.6%

The stock has a 50-day simple moving average of $5.43 and a 200 day simple moving average of $5.77.

PIMCO Strategic Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

A number of hedge funds have recently modified their holdings of RCS. Silver Oak Securities Incorporated acquired a new position in shares of PIMCO Strategic Income Fund in the 4th quarter worth approximately $603,000. Marex Group plc acquired a new stake in PIMCO Strategic Income Fund during the 4th quarter valued at $571,000. Goldman Sachs Group Inc. acquired a new stake in PIMCO Strategic Income Fund during the 4th quarter valued at $526,000. LPL Financial LLC boosted its position in PIMCO Strategic Income Fund by 30.6% in the 4th quarter. LPL Financial LLC now owns 369,581 shares of the investment management company’s stock valued at $2,059,000 after buying an additional 86,529 shares during the last quarter. Finally, Milestone Asset Management LLC increased its stake in shares of PIMCO Strategic Income Fund by 38.3% in the 4th quarter. Milestone Asset Management LLC now owns 172,517 shares of the investment management company’s stock valued at $961,000 after buying an additional 47,767 shares during the period. 13.48% of the stock is owned by institutional investors and hedge funds.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.