PIMCO Income Strategy Fund II (NYSE:PFN) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund II (NYSE:PFN) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.01 and traded as high as $7.18. PIMCO Income Strategy Fund II shares last traded at $7.1650, with a volume of 361,397 shares traded.

PIMCO Income Strategy Fund II Trading Down 0.9%

The firm has a fifty day moving average of $7.01 and a 200 day moving average of $7.06.

PIMCO Income Strategy Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be paid a $0.0718 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 12.1%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund II

A number of institutional investors have recently added to or reduced their stakes in PFN. Concurrent Investment Advisors LLC purchased a new position in shares of PIMCO Income Strategy Fund II during the 4th quarter valued at approximately $2,340,000. Keudell Morrison Wealth Management bought a new position in PIMCO Income Strategy Fund II during the 4th quarter valued at $703,000. Independent Financial Group LLC acquired a new position in PIMCO Income Strategy Fund II during the 1st quarter worth $499,000. Simplicity Wealth LLC bought a new stake in shares of PIMCO Income Strategy Fund II in the 4th quarter worth about $603,000. Finally, Shaker Financial Services LLC acquired a new stake in shares of PIMCO Income Strategy Fund II in the 4th quarter valued at about $794,000.

PIMCO Income Strategy Fund II Company Profile

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.