PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $12.67 and traded as high as $12.81. PIMCO Corporate & Income Strategy Fund shares last traded at $12.7950, with a volume of 308,653 shares traded.

PIMCO Corporate & Income Strategy Fund Stock Performance

The company’s 50 day moving average is $12.67 and its two-hundred day moving average is $12.86.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Tuesday, January 13th will be given a dividend of $0.1125 per share. The ex-dividend date is Tuesday, January 13th. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%.

Hedge Funds 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 PCN. Parallel Advisors LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 3rd quarter worth approximately $27,000. Aspect Partners LLC bought a new stake in PIMCO Corporate & Income Strategy Fund in the third quarter worth $39,000. Ameritas Advisory Services LLC purchased a new stake in PIMCO Corporate & Income Strategy Fund during the second quarter valued at $40,000. Fifth Third Bancorp bought a new position in PIMCO Corporate & Income Strategy Fund during the third quarter valued at $40,000. Finally, Flagship Harbor Advisors LLC bought a new position in PIMCO Corporate & Income Strategy Fund during the fourth quarter valued at $56,000.

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.