PIMCO Income Strategy Fund II (NYSE:PFN) Share Price Crosses Above 50-Day Moving Average – What’s Next?

PIMCO Income Strategy Fund II (NYSE:PFN)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.94 and traded as high as $6.94. PIMCO Income Strategy Fund II shares last traded at $6.9260, with a volume of 484,005 shares trading hands.

PIMCO Income Strategy Fund II Price Performance

The stock has a 50 day moving average price of $6.94 and a two-hundred day moving average price of $7.14.

PIMCO Income Strategy Fund II Announces Dividend

The business 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 $0.0718 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Thursday, June 11th.

Hedge Funds Weigh In On PIMCO Income Strategy Fund II

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its position in shares of PIMCO Income Strategy Fund II by 39,179.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,479,247 shares of the financial services provider’s stock worth $11,094,000 after buying an additional 1,475,481 shares during the period. LPL Financial LLC raised its position in shares of PIMCO Income Strategy Fund II by 0.6% in the 4th quarter. LPL Financial LLC now owns 1,314,714 shares of the financial services provider’s stock valued at $9,860,000 after acquiring an additional 7,692 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of PIMCO Income Strategy Fund II by 0.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065,739 shares of the financial services provider’s stock valued at $7,993,000 after acquiring an additional 6,573 shares during the period. Ameriprise Financial Inc. boosted its stake in PIMCO Income Strategy Fund II by 17.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 889,980 shares of the financial services provider’s stock worth $6,717,000 after acquiring an additional 131,851 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its stake in PIMCO Income Strategy Fund II by 4.3% during the 1st quarter. Rivernorth Capital Management LLC now owns 838,080 shares of the financial services provider’s stock worth $5,774,000 after acquiring an additional 34,573 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.