PIMCO Access Income Fund (NYSE:PAXS) Stock Falls 0.9% – Should You Sell?

PIMCO Access Income Fund (NYSE:PAXS) shares fell 0.9% during trading on Friday. The company traded as low as $12.81 and last traded at $12.8350. Approximately 189,319 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 225,653 shares. The stock had previously closed at $12.95.

PIMCO Access Income Fund Stock Performance

The company has a fifty day moving average of $13.53 and a two-hundred day moving average of $14.06.

PIMCO Access Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be given a dividend of $0.1494 per share. This represents a $1.79 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date is Tuesday, October 13th.

Hedge Funds Weigh In On PIMCO Access Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Care LLC acquired a new position in shares of PIMCO Access Income Fund during the 1st quarter worth $362,000. Corrado Advisors LLC grew its position in PIMCO Access Income Fund by 5.6% during the 1st quarter. Corrado Advisors LLC now owns 160,268 shares of the company’s stock worth $2,309,000 after acquiring an additional 8,508 shares during the last quarter. Independent Financial Group LLC acquired a new position in PIMCO Access Income Fund in the 1st quarter worth about $411,000. Rivernorth Capital Management LLC acquired a new stake in shares of PIMCO Access Income Fund during the first quarter valued at about $1,362,000. Finally, Noble Wealth Management PBC raised its holdings in PIMCO Access Income Fund by 5.8% in the 2nd quarter. Noble Wealth Management PBC now owns 125,967 shares of the company’s stock valued at $1,833,000 after buying an additional 6,899 shares during the last quarter.

About PIMCO Access Income Fund

PIMCO Access Income Fund (NYSE: PAXS) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO), a global investment manager specializing in fixed-income and credit markets. The fund seeks to provide current income as its primary investment objective and capital appreciation as a secondary objective.

PAXS invests primarily in a diversified portfolio of credit-related and other fixed-income securities. Its investments may include corporate bonds, loans, mortgage- and asset-backed securities, emerging-market debt, and other income-producing instruments.