PIMCO Global StocksPLUS & Income Fund (NYSE:PGP) Shares Cross Below 50-Day Moving Average – Should You Sell?

PIMCO Global StocksPLUS & Income Fund (NYSE:PGP) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $8.45 and traded as low as $7.95. PIMCO Global StocksPLUS & Income Fund shares last traded at $8.0540, with a volume of 78,915 shares.

PIMCO Global StocksPLUS & Income Fund Trading Down 0.6%

The stock’s 50 day simple moving average is $8.43 and its two-hundred day simple moving average is $8.61.

PIMCO Global StocksPLUS & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be given a dividend of $0.0690 per share. This represents a $0.83 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date of this dividend is Tuesday, October 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC boosted its holdings in PIMCO Global StocksPLUS & Income Fund by 1.0% in the second quarter. Rivernorth Capital Management LLC now owns 349,408 shares of the company’s stock worth $3,012,000 after acquiring an additional 3,457 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of PIMCO Global StocksPLUS & Income Fund by 4.6% during the first quarter. Cetera Investment Advisers now owns 31,282 shares of the company’s stock valued at $261,000 after acquiring an additional 1,387 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of PIMCO Global StocksPLUS & Income Fund during the first quarter valued at $128,000. Argyle Capital Partners LLC bought a new position in shares of PIMCO Global StocksPLUS & Income Fund during the second quarter valued at $121,000. Finally, CoreCap Advisors LLC raised its position in shares of PIMCO Global StocksPLUS & Income Fund by 44.6% in the 2nd quarter. CoreCap Advisors LLC now owns 10,700 shares of the company’s stock worth $92,000 after purchasing an additional 3,300 shares during the last quarter.

PIMCO Global StocksPLUS & Income Fund Company Profile

PIMCO Global StocksPLUS & Income Fund (NYSE: PGP) is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide investors with a combination of current income and long-term capital appreciation through exposure to global equity and fixed-income markets.

PGP uses PIMCO’s StocksPLUS strategy, which generally combines a portfolio of fixed-income investments with derivatives or other instruments designed to provide exposure to equity markets.