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

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.19 and traded as low as $7.60. PIMCO Income Strategy Fund shares last traded at $7.6550, with a volume of 257,088 shares changing hands.

PIMCO Income Strategy Fund Trading Up 0.3%

The firm has a 50-day moving average of $7.91 and a 200 day moving average of $8.19.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.0814 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in PIMCO Income Strategy Fund by 9.6% during the first quarter. Royal Bank of Canada now owns 167,070 shares of the investment management company’s stock worth $1,437,000 after buying an additional 14,645 shares during the last quarter. Jane Street Group LLC bought a new position in shares of PIMCO Income Strategy Fund in the 1st quarter valued at about $94,000. Northwestern Mutual Wealth Management Co. grew its position in shares of PIMCO Income Strategy Fund by 27.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,142 shares of the investment management company’s stock valued at $126,000 after acquiring an additional 3,230 shares during the period. Invesco Ltd. increased its stake in shares of PIMCO Income Strategy Fund by 3.3% during the 2nd quarter. Invesco Ltd. now owns 317,312 shares of the investment management company’s stock worth $2,646,000 after purchasing an additional 10,168 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of PIMCO Income Strategy Fund by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 94,400 shares of the investment management company’s stock worth $787,000 after purchasing an additional 7,400 shares during the last quarter.

PIMCO Income Strategy Fund Company Profile

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.