PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Breaks Above Fifty Day Moving Average – What’s Next?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $10.99 and traded as high as $11.11. PIMCO Corporate & Income Strategy Fund shares last traded at $11.0650, with a volume of 489,772 shares changing hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The business’s fifty day moving average is $10.99 and its two-hundred day moving average is $11.77.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.1125 per share. The ex-dividend date is Friday, November 13th. This represents a $1.35 annualized dividend and a yield of 12.2%.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

A number of large investors have recently made changes to their positions in PCN. PFS Partners LLC lifted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 66.7% in the 3rd quarter. PFS Partners LLC now owns 2,500 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in PIMCO Corporate & Income Strategy Fund in the second quarter worth about $32,000. Signature Resources Capital Management LLC bought a new stake in PIMCO Corporate & Income Strategy Fund during the third quarter worth approximately $32,000. BOK Financial Private Wealth Inc. bought a new stake in PIMCO Corporate & Income Strategy Fund during the second quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC bought a new stake in PIMCO Corporate & Income Strategy Fund during the second quarter worth approximately $63,000.

PIMCO Corporate & Income Strategy Fund Company Profile

PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a closed-end management investment company designed to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PIMCO, a global investment management firm specializing in fixed-income and related strategies.

PCN invests primarily in corporate debt obligations and other income-producing securities. Its portfolio may include investment-grade and below-investment-grade bonds, commonly known as high-yield bonds, as well as securities issued by companies and governments in the United States and other countries.