PIMCO Income Strategy Fund II (NYSE:PFN) Stock Crosses Below 200-Day Moving Average – Here’s Why

PIMCO Income Strategy Fund II (NYSE:PFN)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.10 and traded as low as $7.05. PIMCO Income Strategy Fund II shares last traded at $7.0550, with a volume of 349,738 shares.

PIMCO Income Strategy Fund II Stock Down 0.8%

The business has a 50 day moving average price of $6.96 and a 200 day moving average price of $7.10.

PIMCO Income Strategy Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given a $0.0718 dividend. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Trading of PIMCO Income Strategy Fund II

Several institutional investors have recently bought and sold shares of PFN. Western Wealth Management LLC bought a new stake in PIMCO Income Strategy Fund II during the 1st quarter valued at about $28,000. Bank of America Corp DE lifted its stake in shares of PIMCO Income Strategy Fund II by 243.4% in the first quarter. Bank of America Corp DE now owns 400,642 shares of the financial services provider’s stock worth $2,760,000 after buying an additional 283,970 shares in the last quarter. Rivernorth Capital Management LLC lifted its stake in shares of PIMCO Income Strategy Fund II by 4.3% in the first quarter. Rivernorth Capital Management LLC now owns 838,080 shares of the financial services provider’s stock worth $5,774,000 after buying an additional 34,573 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of PIMCO Income Strategy Fund II by 404.2% during the first quarter. Royal Bank of Canada now owns 378,002 shares of the financial services provider’s stock valued at $2,605,000 after buying an additional 303,031 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of PIMCO Income Strategy Fund II by 4.8% during the first quarter. Cetera Investment Advisers now owns 198,548 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 9,154 shares during the last quarter.

About PIMCO Income Strategy Fund II

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.