PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Trading Down 0.8% Following Insider Selling

PIMCO Dynamic Income Strategy Fund (NYSE:PDX) shares traded down 0.8% on Tuesday after an insider sold shares in the company. The company traded as low as $20.01 and last traded at $20.1050. 134,505 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 200,558 shares. The stock had previously closed at $20.27.

Specifically, major shareholder Saba Capital Management, L.P. sold 20,300 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.26, for a total value of $411,278.00. Following the completion of the sale, the insider owned 6,479,874 shares of the company’s stock, valued at $131,282,247.24. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 28,460 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $20.34, for a total transaction of $578,876.40. Following the transaction, the insider owned 6,500,174 shares in the company, valued at approximately $132,213,539.16. This trade represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. In other PIMCO Dynamic Income Strategy Fund news, major shareholder Saba Capital Management, L.P. sold 28,531 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $20.37, for a total value of $581,176.47. Following the completion of the transaction, the insider owned 6,528,634 shares of the company’s stock, valued at approximately $132,988,274.58. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

PIMCO Dynamic Income Strategy Fund Stock Performance

The company’s 50-day moving average price is $20.01 and its 200-day moving average price is $22.04.

PIMCO Dynamic Income Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th will be given a dividend of $0.1334 per share. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Thursday, February 12th.

Hedge Funds Weigh In On PIMCO Dynamic Income Strategy Fund

Several large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC increased its stake in shares of PIMCO Dynamic Income Strategy Fund by 0.4% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,599,012 shares of the company’s stock worth $30,029,000 after acquiring an additional 7,057 shares during the period. Envestnet Asset Management Inc. increased its position in PIMCO Dynamic Income Strategy Fund by 5.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 876,569 shares of the company’s stock worth $21,853,000 after purchasing an additional 48,566 shares during the period. Wells Fargo & Company MN increased its position in PIMCO Dynamic Income Strategy Fund by 2.7% during the 4th quarter. Wells Fargo & Company MN now owns 876,150 shares of the company’s stock worth $16,454,000 after purchasing an additional 22,803 shares during the period. Bank of America Corp DE raised its stake in shares of PIMCO Dynamic Income Strategy Fund by 2.6% during the 3rd quarter. Bank of America Corp DE now owns 583,103 shares of the company’s stock worth $14,537,000 after buying an additional 14,812 shares in the last quarter. Finally, Hollencrest Capital Management lifted its holdings in shares of PIMCO Dynamic Income Strategy Fund by 1.0% in the 4th quarter. Hollencrest Capital Management now owns 481,576 shares of the company’s stock valued at $9,044,000 after buying an additional 4,690 shares during the period.

PIMCO Dynamic Income Strategy Fund (NYSE:PDX) is a diversified, closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). Launched in 2011, the fund seeks to deliver high current income and capital appreciation by investing in a broad range of fixed income securities. As a closed-end vehicle, PDX trades on the NYSE and employs leverage to enhance its income potential, while adhering to its investment objective under varying market conditions.

The fund’s strategy centers on a flexible allocation among global debt markets, encompassing investment-grade and high-yield corporate bonds, U.S.