Short Interest in PIMCO Income Strategy Fund (NYSE:PFL) Drops By 47.9%

PIMCO Income Strategy Fund (NYSE:PFL) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 119,199 shares, a decline of 47.9% from the May 14th total of 228,920 shares. Based on an average daily volume of 192,793 shares, the days-to-cover ratio is presently 0.6 days.

PIMCO Income Strategy Fund Price Performance

PFL stock traded up $0.01 during midday trading on Monday, hitting $7.68. 134,332 shares of the company’s stock were exchanged, compared to its average volume of 202,443. PIMCO Income Strategy Fund has a 12-month low of $7.58 and a 12-month high of $8.70. The firm has a 50 day moving average price of $7.89 and a 200-day moving average price of $8.17.

PIMCO Income Strategy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a $0.0814 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Thursday, June 11th.

Institutional Investors Weigh In On PIMCO Income Strategy Fund

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of PIMCO Income Strategy Fund by 16.1% in the 1st quarter. Royal Bank of Canada now owns 235,475 shares of the investment management company’s stock valued at $1,884,000 after acquiring an additional 32,669 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of PIMCO Income Strategy Fund by 23.7% in the 1st quarter. Cetera Investment Advisers now owns 214,507 shares of the investment management company’s stock valued at $1,716,000 after acquiring an additional 41,040 shares during the last quarter. Independent Financial Group LLC bought a new stake in shares of PIMCO Income Strategy Fund in the 1st quarter valued at approximately $4,192,000. D.A. Davidson & CO. increased its holdings in shares of PIMCO Income Strategy Fund by 49.0% in the 1st quarter. D.A. Davidson & CO. now owns 35,757 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 11,758 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of PIMCO Income Strategy Fund by 9.0% in the 1st quarter. Kestra Advisory Services LLC now owns 53,754 shares of the investment management company’s stock valued at $430,000 after acquiring an additional 4,456 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.