PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $11.76 and traded as low as $10.65. PIMCO Corporate & Income Strategy Fund shares last traded at $10.7750, with a volume of 530,057 shares traded.

PIMCO Corporate & Income Strategy Fund Stock Performance

The firm has a 50-day moving average price of $11.57 and a 200 day moving average price of $11.76.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.35 annualized dividend and a yield of 12.5%.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of PCN. Integrated Wealth Concepts LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund during the second quarter worth about $32,000. BOK Financial Private Wealth Inc. purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the second quarter valued at approximately $41,000. Ameritas Advisory Services LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the second quarter valued at approximately $63,000. Sunbelt Securities Inc. acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the first quarter valued at approximately $69,000. Finally, Highland Investment Advisors LLC acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the second quarter valued at approximately $92,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end investment company 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.

PCN invests primarily in corporate debt and other income-producing securities. Its portfolio may include investment-grade and below-investment-grade bonds, as well as securities issued by companies and governments in the United States and international markets.