PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.44 and traded as low as $5.34. PIMCO Strategic Income Fund shares last traded at $5.3660, with a volume of 224,808 shares.

PIMCO Strategic Income Fund Trading Down 1.7%

The company’s fifty day simple moving average is $5.44 and its 200-day simple moving average is $5.62.

PIMCO Strategic Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Trading of PIMCO Strategic Income Fund

A number of hedge funds have recently bought and sold shares of RCS. Comerica Bank lifted its holdings in PIMCO Strategic Income Fund by 959.0% during the first quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock worth $33,000 after buying an additional 4,795 shares during the period. Fifth Third Bancorp bought a new position in shares of PIMCO Strategic Income Fund in the 1st quarter worth $28,000. Keudell Morrison Wealth Management purchased a new stake in shares of PIMCO Strategic Income Fund during the 4th quarter worth $56,000. StoneX Group Inc. bought a new stake in PIMCO Strategic Income Fund during the second quarter valued at about $72,000. Finally, First Trust Advisors LP bought a new stake in PIMCO Strategic Income Fund during the second quarter valued at about $85,000. Hedge funds and other institutional investors own 13.48% of the company’s stock.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.