PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Drop in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 93,032 shares, a drop of 35.5% from the April 15th total of 144,271 shares. Based on an average daily trading volume, of 269,564 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mission Hills Financial Advisory LLC raised its stake in PIMCO Corporate & Income Strategy Fund by 4.3% in the fourth quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock valued at $15,694,000 after buying an additional 50,612 shares during the last quarter. GHE LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 19.5% in the first quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock worth $8,902,000 after purchasing an additional 122,079 shares during the last quarter. LPL Financial LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 10.4% in the fourth quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock worth $7,313,000 after purchasing an additional 54,094 shares during the last quarter. Invesco Ltd. raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 1.7% in the fourth quarter. Invesco Ltd. now owns 475,794 shares of the investment management company’s stock worth $6,071,000 after purchasing an additional 7,826 shares during the last quarter. Finally, Elevated Capital Advisors LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 10.2% in the first quarter. Elevated Capital Advisors LLC now owns 399,746 shares of the investment management company’s stock worth $4,757,000 after purchasing an additional 37,135 shares during the last quarter.

PIMCO Corporate & Income Strategy Fund Trading Down 1.1%

PIMCO Corporate & Income Strategy Fund stock traded down $0.14 during midday trading on Monday, reaching $11.62. The company’s stock had a trading volume of 490,351 shares, compared to its average volume of 370,307. The stock’s 50-day simple moving average is $11.96 and its 200-day simple moving average is $12.46. PIMCO Corporate & Income Strategy Fund has a 52-week low of $11.40 and a 52-week high of $13.49.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.1125 dividend. The ex-dividend date is Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 11.6%.

PIMCO Corporate & Income Strategy Fund Company Profile

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.