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

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.29 and traded as low as $11.74. PIMCO Corporate & Income Strategy Fund shares last traded at $11.7550, with a volume of 282,098 shares trading hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The business’s 50-day moving average price is $11.87 and its 200 day moving average price is $12.29.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be given a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date is Thursday, June 11th.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

A number of large investors have recently modified their holdings of PCN. Rivernorth Capital Management LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at approximately $3,875,000. Wells Fargo & Company MN raised its stake in PIMCO Corporate & Income Strategy Fund by 69.6% in the fourth quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock valued at $4,866,000 after purchasing an additional 156,439 shares in the last quarter. Astoria Portfolio Advisors LLC. purchased a new stake in PIMCO Corporate & Income Strategy Fund in the first quarter valued at approximately $1,524,000. GHE LLC raised its stake in PIMCO Corporate & Income Strategy Fund by 19.5% in the first quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock valued at $8,902,000 after purchasing an additional 122,079 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at approximately $1,492,000.

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.