PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Drop in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 62,488 shares, a decrease of 78.6% from the September 15th total of 291,976 shares. Based on an average daily volume of 612,670 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO Corporate & Income Strategy Fund Stock Down 0.3%

Shares of PIMCO Corporate & Income Strategy Fund stock traded down $0.04 on Monday, hitting $10.86. The stock had a trading volume of 374,000 shares, compared to its average volume of 379,990. PIMCO Corporate & Income Strategy Fund has a one year low of $10.44 and a one year high of $13.47. The stock’s 50-day simple moving average is $11.38 and its two-hundred day simple moving average is $11.67.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, October 13th.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Institutional investors have recently added to or reduced their stakes in the company. Williams & Novak Wealth Management LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the third quarter valued at about $275,000. Integrated Capital Management Inc. bought a new position in shares of PIMCO Corporate & Income Strategy Fund during the third quarter valued at about $444,000. CoreCap Advisors LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 15.3% during the third quarter. CoreCap Advisors LLC now owns 12,820 shares of the investment management company’s stock valued at $137,000 after acquiring an additional 1,700 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 51.8% during the third quarter. Venture Visionary Partners LLC now owns 263,222 shares of the investment management company’s stock worth $2,809,000 after purchasing an additional 89,849 shares during the period. Finally, AG Asset Advisory LLC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 3.1% during the second quarter. AG Asset Advisory LLC now owns 177,270 shares of the investment management company’s stock worth $2,118,000 after purchasing an additional 5,344 shares during the period.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PCN. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm, and is designed to provide shareholders with a high level of current income while also pursuing long-term capital appreciation.

The fund invests primarily in corporate debt securities and other income-producing investments. Its portfolio may include investment-grade and below-investment-grade corporate bonds, convertible securities, preferred securities, mortgage-related and other asset-backed securities, and obligations issued by governments and financial institutions.