PIMCO Income Strategy Fund (NYSE:PFL) Shares Pass Below 200 Day Moving Average – Here’s Why

PIMCO Income Strategy Fund (NYSE:PFL)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.26 and traded as low as $7.66. PIMCO Income Strategy Fund shares last traded at $7.6750, with a volume of 234,461 shares.

PIMCO Income Strategy Fund Stock Performance

The business has a 50 day moving average price of $7.99 and a 200-day moving average price of $8.26.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.0814 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Monday, May 11th.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in shares of PIMCO Income Strategy Fund by 16.1% during the 1st quarter. Royal Bank of Canada now owns 235,475 shares of the investment management company’s stock worth $1,884,000 after buying an additional 32,669 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of PIMCO Income Strategy Fund by 23.7% during the 1st quarter. Cetera Investment Advisers now owns 214,507 shares of the investment management company’s stock worth $1,716,000 after buying an additional 41,040 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of PIMCO Income Strategy Fund during the 1st quarter worth approximately $4,192,000. D.A. Davidson & CO. raised its stake in shares of PIMCO Income Strategy Fund by 49.0% during the 1st quarter. D.A. Davidson & CO. now owns 35,757 shares of the investment management company’s stock worth $286,000 after buying an additional 11,758 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of PIMCO Income Strategy Fund by 9.0% during the 1st quarter. Kestra Advisory Services LLC now owns 53,754 shares of the investment management company’s stock worth $430,000 after buying an additional 4,456 shares in the last quarter.

About PIMCO Income Strategy Fund

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.