PIMCO Income Strategy Fund (NYSE:PFL) Shares Cross Below 50 Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund (NYSE:PFL) shares crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $6.97 and traded as low as $6.85. PIMCO Income Strategy Fund shares last traded at $6.8660, with a volume of 186,546 shares traded.

PIMCO Income Strategy Fund Trading Down 2.1%

The company’s fifty day moving average is $6.97 and its 200 day moving average is $7.70.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.0814 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.98 annualized dividend and a yield of 14.2%.

Institutional Trading of PIMCO Income Strategy Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. bought a new stake in PIMCO Income Strategy Fund during the third quarter worth about $78,000. StoneX Group Inc. grew its stake in PIMCO Income Strategy Fund by 34.8% in the third quarter. StoneX Group Inc. now owns 49,038 shares of the investment management company’s stock valued at $342,000 after purchasing an additional 12,649 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of PIMCO Income Strategy Fund by 54.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 279,307 shares of the investment management company’s stock worth $1,927,000 after purchasing an additional 98,696 shares during the last quarter. GraniteShares Advisors LLC increased its position in shares of PIMCO Income Strategy Fund by 1.6% during the 3rd quarter. GraniteShares Advisors LLC now owns 340,656 shares of the investment management company’s stock worth $2,351,000 after purchasing an additional 5,268 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of PIMCO Income Strategy Fund by 18.3% during the 3rd quarter. D.A. Davidson & CO. now owns 42,847 shares of the investment management company’s stock worth $296,000 after purchasing an additional 6,614 shares during the last quarter.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE:PFL) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. PFL invests primarily in a diversified portfolio of fixed-income securities issued by governments, corporations and other entities. Its investments may include investment-grade and below-investment-grade debt, mortgage- and asset-backed securities, emerging-market debt, and other income-producing instruments.