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

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.89 and traded as low as $12.77. PIMCO Corporate & Income Strategy Fund shares last traded at $12.7920, with a volume of 305,046 shares changing hands.

PIMCO Corporate & Income Strategy Fund Stock Performance

The company’s 50 day simple moving average is $12.75 and its two-hundred day simple moving average is $12.89.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be issued a $0.1125 dividend. This represents a c) annualized dividend and a yield of 10.6%. The ex-dividend date is Thursday, February 12th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

A number of institutional investors have recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter valued at $26,000. Rivernorth Capital Management LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund during the fourth quarter worth about $3,875,000. Millennium Management LLC acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the fourth quarter worth about $228,000. Regal Investment Advisors LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at approximately $166,000. Finally, Osaic Holdings Inc. boosted its stake in shares of PIMCO Corporate & Income Strategy Fund by 13.6% in the fourth quarter. Osaic Holdings Inc. now owns 183,188 shares of the investment management company’s stock valued at $2,337,000 after purchasing an additional 21,975 shares during the period.

PIMCO Corporate & Income Strategy Fund Company Profile

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.