PIMCO Income Strategy Fund (NYSE:PFL) Share Price Breaks Below Fifty Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $6.97 and traded as low as $6.85. PIMCO Income Strategy Fund shares last traded at $6.8660, with a volume of 186,546 shares changing hands.

PIMCO Income Strategy Fund Stock Down 0.6%

The business has a fifty day moving average of $6.93 and a 200 day moving average of $7.68.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $0.0814 per share. This represents a $0.98 annualized dividend and a dividend yield of 14.6%. The ex-dividend date is Friday, November 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Financial Group LLC bought a new position in PIMCO Income Strategy Fund during the first quarter worth about $4,192,000. Centaurus Financial Inc. bought a new stake in shares of PIMCO Income Strategy Fund in the second quarter worth about $2,025,000. Shaker Financial Services LLC increased its holdings in shares of PIMCO Income Strategy Fund by 85.8% in the third quarter. Shaker Financial Services LLC now owns 548,253 shares of the investment management company’s stock worth $3,809,000 after acquiring an additional 253,173 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of PIMCO Income Strategy Fund in the second quarter worth about $1,611,000. Finally, Commonwealth Equity Services LLC raised its position in shares of PIMCO Income Strategy Fund by 54.6% during the third quarter. Commonwealth Equity Services LLC now owns 279,307 shares of the investment management company’s stock worth $1,927,000 after purchasing an additional 98,696 shares during the period.

About PIMCO Income Strategy Fund

PIMCO Income Strategy Fund (NYSE:PFL) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. PFL invests primarily in a diversified portfolio of fixed-income securities issued by governments, corporations and other entities. Its investments may include investment-grade and below-investment-grade debt, mortgage- and asset-backed securities, emerging-market debt, and other income-producing instruments.