PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.21 and traded as low as $11.83. PIMCO Corporate & Income Strategy Fund shares last traded at $11.8450, with a volume of 251,502 shares traded.

PIMCO Corporate & Income Strategy Fund Stock Down 0.3%

The business has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $12.21.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be paid a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

A number of institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the fourth quarter worth about $26,000. Parallel Advisors LLC bought a new position in PIMCO Corporate & Income Strategy Fund during the 3rd quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB lifted its holdings in PIMCO Corporate & Income Strategy Fund by 91.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,192 shares of the investment management company’s stock worth $53,000 after buying an additional 2,000 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter worth approximately $56,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 1st quarter worth approximately $69,000.

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.