PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Short Interest Update

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 295,766 shares, an increase of 89.2% from the July 30th total of 156,299 shares. Based on an average daily trading volume, of 372,934 shares, the days-to-cover ratio is currently 0.8 days.

PIMCO Corporate & Income Strategy Fund Price Performance

PCN traded down $0.04 during trading hours on Monday, reaching $11.74. 407,966 shares of the company’s stock traded hands, compared to its average volume of 347,838. The firm has a 50-day moving average price of $11.76 and a 200 day moving average price of $11.94. PIMCO Corporate & Income Strategy Fund has a 52-week low of $11.40 and a 52-week high of $13.49.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be given a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Thursday, August 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCN. Vermillion & White Wealth Management Group LLC bought a new stake in PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at about $26,000. Parallel Advisors LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund during the third quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of PIMCO Corporate & Income Strategy Fund during the second quarter valued at approximately $41,000. Wilmington Savings Fund Society FSB raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 91.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,192 shares of the investment management company’s stock valued at $53,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of PIMCO Corporate & Income Strategy Fund in the second quarter valued at approximately $63,000.

About PIMCO Corporate & Income Strategy Fund

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.

The fund pursues its income objective by investing primarily in U.S.