PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.68 and traded as low as $12.02. PIMCO Corporate & Income Strategy Fund shares last traded at $12.25, with a volume of 432,026 shares traded.

PIMCO Corporate & Income Strategy Fund Price Performance

The firm has a 50-day moving average price of $13.46 and a two-hundred day moving average price of $13.68.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 11.02%. The ex-dividend date of this dividend is Friday, April 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp grew its position in PIMCO Corporate & Income Strategy Fund by 17.0% during the third quarter. Stifel Financial Corp now owns 22,075 shares of the investment management company’s stock worth $313,000 after buying an additional 3,204 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of PIMCO Corporate & Income Strategy Fund by 20.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 27,992 shares of the investment management company’s stock worth $392,000 after acquiring an additional 4,666 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the 3rd quarter worth approximately $28,000. Mission Hills Financial Advisory LLC increased its position in shares of PIMCO Corporate & Income Strategy Fund by 9.8% during the fourth quarter. Mission Hills Financial Advisory LLC now owns 871,785 shares of the investment management company’s stock valued at $11,699,000 after purchasing an additional 77,732 shares during the period. Finally, Alpha Cubed Investments LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund during the fourth quarter valued at approximately $144,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.