PIMCO Income Strategy Fund (NYSE:PFL) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

PIMCO Income Strategy Fund (NYSE:PFL)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.81 and traded as high as $7.88. PIMCO Income Strategy Fund shares last traded at $7.87, with a volume of 233,930 shares.

PIMCO Income Strategy Fund Price Performance

The company’s 50-day moving average is $7.81 and its two-hundred day moving average is $8.11.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be issued a $0.0814 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Trading of PIMCO Income Strategy Fund

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of PIMCO Income Strategy Fund by 9.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 16,552 shares of the investment management company’s stock worth $141,000 after purchasing an additional 1,410 shares in the last quarter. PFG Investments LLC lifted its holdings in PIMCO Income Strategy Fund by 9.3% in the fourth quarter. PFG Investments LLC now owns 23,500 shares of the investment management company’s stock worth $198,000 after purchasing an additional 2,000 shares during the period. Raymond James Financial Inc. lifted its holdings in PIMCO Income Strategy Fund by 7.2% in the second quarter. Raymond James Financial Inc. now owns 42,755 shares of the investment management company’s stock worth $357,000 after purchasing an additional 2,864 shares during the period. International Assets Investment Management LLC bought a new position in PIMCO Income Strategy Fund in the 4th quarter valued at about $29,000. Finally, Highline Wealth Partners LLC grew its position in PIMCO Income Strategy Fund by 1,114.3% in the 4th quarter. Highline Wealth Partners LLC now owns 4,250 shares of the investment management company’s stock valued at $36,000 after buying an additional 3,900 shares in the last quarter.

About PIMCO Income Strategy Fund

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.