PIMCO Dynamic Income Fund (NYSE:PDI) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

PIMCO Dynamic Income Fund (NYSE:PDI)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $16.63 and traded as low as $16.26. PIMCO Dynamic Income Fund shares last traded at $16.3150, with a volume of 1,935,120 shares trading hands.

PIMCO Dynamic Income Fund Stock Down 0.8%

The company’s fifty day moving average is $16.63 and its 200-day moving average is $17.42.

PIMCO Dynamic Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be given a $0.2205 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 16.2%. The ex-dividend date is Monday, July 13th.

Institutional Trading of PIMCO Dynamic Income Fund

Several institutional investors and hedge funds have recently modified their holdings of PDI. Bank of America Corp DE lifted its stake in shares of PIMCO Dynamic Income Fund by 5.7% during the 2nd quarter. Bank of America Corp DE now owns 3,068,594 shares of the company’s stock valued at $58,211,000 after buying an additional 165,389 shares in the last quarter. Rivernorth Capital Management LLC bought a new position in PIMCO Dynamic Income Fund in the 4th quarter worth $49,968,000. Wells Fargo & Company MN increased its stake in PIMCO Dynamic Income Fund by 110.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,214,301 shares of the company’s stock worth $39,215,000 after buying an additional 1,161,637 shares in the last quarter. UBS Group AG increased its stake in PIMCO Dynamic Income Fund by 2.3% in the 3rd quarter. UBS Group AG now owns 1,758,095 shares of the company’s stock worth $34,810,000 after buying an additional 38,875 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in PIMCO Dynamic Income Fund by 6.9% during the first quarter. Cetera Investment Advisers now owns 1,708,064 shares of the company’s stock valued at $29,225,000 after acquiring an additional 110,655 shares during the period.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (“PIMCO”), one of the world’s largest fixed-income asset managers. Listed on the New York Stock Exchange, PDI seeks to deliver attractive monthly income and capital appreciation by allocating across a broad array of global fixed-income markets.

The fund employs a dynamic, multi-sector approach, investing in a diversified mix of investment-grade and high-yield corporate bonds, bank loans, emerging-market debt, mortgage- and asset-backed securities, and U.S.