PIMCO Income Strategy Fund (NYSE:PFL) Stock Crosses Below 200-Day Moving Average – Time to Sell?

PIMCO Income Strategy Fund (NYSE:PFL)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.94 and traded as low as $7.53. PIMCO Income Strategy Fund shares last traded at $7.61, with a volume of 127,418 shares changing hands.

PIMCO Income Strategy Fund Trading Up 0.7%

The firm’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $7.94.

PIMCO Income Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be given a dividend of $0.0814 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 12.8%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in PIMCO Income Strategy Fund by 23.6% during the fourth quarter. Guggenheim Capital LLC now owns 983,056 shares of the investment management company’s stock valued at $8,287,000 after acquiring an additional 187,978 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of PIMCO Income Strategy Fund in the 1st quarter worth about $4,192,000. LPL Financial LLC lifted its stake in shares of PIMCO Income Strategy Fund by 18.2% in the 4th quarter. LPL Financial LLC now owns 497,728 shares of the investment management company’s stock valued at $4,196,000 after purchasing an additional 76,686 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of PIMCO Income Strategy Fund by 42.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 334,062 shares of the investment management company’s stock valued at $2,808,000 after purchasing an additional 99,096 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of PIMCO Income Strategy Fund by 3.3% in the 2nd quarter. Invesco Ltd. now owns 317,312 shares of the investment management company’s stock valued at $2,646,000 after purchasing an additional 10,168 shares during the period.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.