PIMCO Strategic Income Fund (NYSE:RCS) Stock Breaks Above 50-Day Moving Average – Time to Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s share price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $5.03 and traded as high as $5.10. PIMCO Strategic Income Fund shares last traded at $5.0650, with a volume of 198,035 shares traded.

PIMCO Strategic Income Fund Price Performance

The firm’s 50-day moving average is $5.03 and its 200-day moving average is $5.38.

PIMCO Strategic Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $0.48 annualized dividend and a yield of 9.5%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

A number of institutional investors have recently made changes to their positions in RCS. Americana Partners LLC purchased a new stake in shares of PIMCO Strategic Income Fund during the third quarter valued at approximately $51,000. Verdence Capital Advisors LLC bought a new position in shares of PIMCO Strategic Income Fund in the third quarter worth approximately $72,000. Integrated Wealth Concepts LLC purchased a new position in PIMCO Strategic Income Fund in the 2nd quarter worth about $41,000. Bank of America Corp DE bought a new position in shares of PIMCO Strategic Income Fund during the 2nd quarter valued at $332,000. Finally, Readystate Asset Management LP bought a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter worth approximately $185,000. Institutional investors own 13.48% of the company’s stock.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund, Inc is a closed-end management investment company traded on the New York Stock Exchange under the symbol RCS. The fund is managed by PIMCO, an investment manager specializing in fixed-income and other income-oriented strategies.

The fund’s primary objective is to provide a high level of current income, with capital appreciation as a secondary objective. It seeks to achieve these goals by investing in a diversified portfolio of income-producing securities, including government and corporate bonds, mortgage- and asset-backed securities, emerging-market debt and other fixed-income instruments.

PIMCO Strategic Income Fund has a flexible, global investment mandate and may allocate assets across markets and sectors based on PIMCO’s assessment of economic conditions, interest rates, credit quality and relative value.