PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

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 $12.29 and traded as low as $11.74. PIMCO Corporate & Income Strategy Fund shares last traded at $11.7550, with a volume of 282,098 shares trading hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The business’s 50 day moving average is $11.87 and its two-hundred day moving average is $12.29.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be paid a $0.1125 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Rathbones Group PLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 69.0% during the first quarter. Rathbones Group PLC now owns 24,500 shares of the investment management company’s stock worth $292,000 after acquiring an additional 10,000 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund during the first quarter worth approximately $144,000. Sunbelt Securities Inc. purchased a new position in shares of PIMCO Corporate & Income Strategy Fund during the first quarter worth approximately $69,000. Rivernorth Capital Management LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 17.0% during the first quarter. Rivernorth Capital Management LLC now owns 355,256 shares of the investment management company’s stock worth $4,228,000 after acquiring an additional 51,607 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 1.7% during the first quarter. Royal Bank of Canada now owns 78,213 shares of the investment management company’s stock worth $930,000 after acquiring an additional 1,326 shares in the last quarter.

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.