Insider Buying: TCW Strategic Income Fund (NYSE:TSI) Director Acquires $232,000.00 in Stock

TCW Strategic Income Fund, Inc. (NYSE:TSI) Director Peter Mcmillan bought 50,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $4.64 per share, with a total value of $232,000.00. Following the transaction, the director directly owned 300,000 shares of the company’s stock, valued at approximately $1,392,000. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Peter Mcmillan also recently made the following trade(s):

• On Friday, February 13th, Peter Mcmillan purchased 17,390 shares of TCW Strategic Income Fund stock. The shares were bought at an average cost of $4.71 per share, for a total transaction of $81,906.90.
• On Thursday, February 12th, Peter Mcmillan purchased 179,522 shares of TCW Strategic Income Fund stock. The stock was bought at an average price of $4.73 per share, with a total value of $849,139.06.
• On Wednesday, February 11th, Peter Mcmillan acquired 10,478 shares of TCW Strategic Income Fund stock. The stock was purchased at an average cost of $4.74 per share, with a total value of $49,665.72.

TCW Strategic Income Fund Price Performance

Shares of TSI remained flat at $4.64 during mid-day trading on Friday. 172,441 shares of the stock were exchanged, compared to its average volume of 207,157. The firm has a 50-day moving average of $4.87 and a two-hundred day moving average of $4.92. TCW Strategic Income Fund, Inc. has a 12 month low of $4.58 and a 12 month high of $5.06.

TCW Strategic Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.0283 per share. This is a positive change from TCW Strategic Income Fund’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Trading of TCW Strategic Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in TCW Strategic Income Fund by 4.4% in the fourth quarter. HighTower Advisors LLC now owns 64,953 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 2,757 shares during the last quarter. Intellus Advisors LLC raised its holdings in TCW Strategic Income Fund by 6.0% in the second quarter. Intellus Advisors LLC now owns 49,754 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 2,836 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in TCW Strategic Income Fund by 16.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,372 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 3,546 shares during the last quarter. Riverbridge Partners LLC boosted its stake in TCW Strategic Income Fund by 2.5% during the 3rd quarter. Riverbridge Partners LLC now owns 174,353 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 4,252 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in TCW Strategic Income Fund by 13.6% during the 2nd quarter. Bank of America Corp DE now owns 41,740 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 5,001 shares in the last quarter. 35.22% of the stock is owned by hedge funds and other institutional investors.

TCW Strategic Income Fund Company Profile

TCW Strategic Income Fund (NYSE: TSI) is a diversified, closed-end management investment company that seeks to provide total return through high current income and capital appreciation. The fund primarily invests in a broad array of fixed-income securities, including corporate debt, high-yield bonds, mortgage- and asset-backed securities, and emerging market debt. By combining multiple credit sectors with a flexible duration approach, the fund aims to generate attractive yields while managing interest-rate and credit risks in varying market environments.

Under the management of TCW Asset Management Company LLC, a subsidiary of TCW Group founded in 1971, TSI leverages the firm’s deep credit research capabilities and global trading platforms.