PIMCO Dynamic Income Fund (NYSE:PDI) Shares Pass Below 50-Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.13 and traded as low as $16.52. PIMCO Dynamic Income Fund shares last traded at $16.5750, with a volume of 3,399,525 shares changing hands.

PIMCO Dynamic Income Fund Trading Down 0.6%

The business has a fifty day moving average price of $17.13 and a 200-day moving average price of $17.68.

PIMCO Dynamic Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.2205 per share. This represents a c) annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDI. Rivernorth Capital Management LLC bought a new position in PIMCO Dynamic Income Fund during the fourth quarter valued at approximately $49,968,000. Wells Fargo & Company MN boosted its stake in shares of PIMCO Dynamic Income Fund by 110.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,214,301 shares of the company’s stock worth $39,215,000 after buying an additional 1,161,637 shares during the last quarter. Independent Financial Group LLC purchased a new position in shares of PIMCO Dynamic Income Fund in the 1st quarter worth $8,898,000. Jane Street Group LLC boosted its stake in shares of PIMCO Dynamic Income Fund by 503.9% in the 4th quarter. Jane Street Group LLC now owns 610,974 shares of the company’s stock worth $10,820,000 after buying an additional 509,810 shares during the last quarter. Finally, Marex Group plc purchased a new position in shares of PIMCO Dynamic Income Fund in the 4th quarter worth $7,052,000.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (“PIMCO”), one of the world’s largest fixed-income asset managers. Listed on the New York Stock Exchange, PDI seeks to deliver attractive monthly income and capital appreciation by allocating across a broad array of global fixed-income markets.

The fund employs a dynamic, multi-sector approach, investing in a diversified mix of investment-grade and high-yield corporate bonds, bank loans, emerging-market debt, mortgage- and asset-backed securities, and U.S.