PIMCO Income Strategy Fund (NYSE:PFL) Stock Crosses Below 200-Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund (NYSE:PFL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.42 and traded as low as $7.91. PIMCO Income Strategy Fund shares last traded at $7.98, with a volume of 332,909 shares traded.

PIMCO Income Strategy Fund Stock Performance

The stock’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $8.41.

PIMCO Income Strategy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.0814 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 12.6%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Several hedge funds have recently bought and sold shares of the company. GraniteShares Advisors LLC purchased a new stake in shares of PIMCO Income Strategy Fund during the fourth quarter worth about $2,739,000. Hohimer Wealth Management LLC grew its stake in PIMCO Income Strategy Fund by 2,058.7% in the 4th quarter. Hohimer Wealth Management LLC now owns 256,970 shares of the investment management company’s stock worth $2,166,000 after acquiring an additional 245,066 shares during the period. Guggenheim Capital LLC grew its stake in PIMCO Income Strategy Fund by 23.6% in the 4th quarter. Guggenheim Capital LLC now owns 983,056 shares of the investment management company’s stock worth $8,287,000 after acquiring an additional 187,978 shares during the period. Pinnacle Financial Partners Inc. acquired a new position in PIMCO Income Strategy Fund in the 3rd quarter valued at $1,005,000. Finally, Ameriprise Financial Inc. raised its holdings in PIMCO Income Strategy Fund by 42.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 334,062 shares of the investment management company’s stock valued at $2,808,000 after acquiring an additional 99,096 shares during the last quarter.

About PIMCO Income Strategy Fund

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.