PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCNGet Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.27 and traded as low as $12.50. PIMCO Corporate & Income Strategy Fund shares last traded at $12.52, with a volume of 193,716 shares.

PIMCO Corporate & Income Strategy Fund Trading Down 1.0%

The company has a 50-day moving average price of $12.66 and a 200-day moving average price of $13.27.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be given a $0.1125 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.35 dividend on an annualized basis and a yield of 10.79%.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its position in PIMCO Corporate & Income Strategy Fund by 21.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,034,081 shares of the investment management company’s stock worth $13,877,000 after purchasing an additional 184,599 shares during the period. Keystone Financial Group acquired a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter worth approximately $134,000. Raymond James Financial Inc. acquired a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter worth approximately $448,000. LPL Financial LLC lifted its position in PIMCO Corporate & Income Strategy Fund by 7.7% in the fourth quarter. LPL Financial LLC now owns 415,225 shares of the investment management company’s stock worth $5,572,000 after purchasing an additional 29,841 shares during the period. Finally, Aristides Capital LLC acquired a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter worth approximately $180,000.

About PIMCO Corporate & Income Strategy Fund

(Get Free Report)

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.

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