PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.46 and traded as low as $12.76. PIMCO Corporate & Income Strategy Fund shares last traded at $12.79, with a volume of 177,044 shares trading hands.

PIMCO Corporate & Income Strategy Fund Stock Up 0.2%

The firm has a 50 day simple moving average of $12.96 and a 200-day simple moving average of $13.46.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a $0.1125 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 10.56%. The ex-dividend date is Monday, May 12th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PCN. Cambridge Investment Research Advisors Inc. grew its holdings in PIMCO Corporate & Income Strategy Fund by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,510 shares of the investment management company’s stock worth $416,000 after purchasing an additional 968 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of PIMCO Corporate & Income Strategy Fund by 68.7% in the 1st quarter. Harbour Investments Inc. now owns 2,498 shares of the investment management company’s stock worth $34,000 after purchasing an additional 1,017 shares in the last quarter. Consolidated Portfolio Review Corp grew its stake in PIMCO Corporate & Income Strategy Fund by 1.1% during the 4th quarter. Consolidated Portfolio Review Corp now owns 133,720 shares of the investment management company’s stock worth $1,795,000 after buying an additional 1,488 shares during the last quarter. IHT Wealth Management LLC increased its position in PIMCO Corporate & Income Strategy Fund by 14.0% during the 4th quarter. IHT Wealth Management LLC now owns 14,950 shares of the investment management company’s stock valued at $201,000 after buying an additional 1,841 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in PIMCO Corporate & Income Strategy Fund in the first quarter valued at about $34,000.

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.