PIMCO Strategic Income Fund (NYSE:RCS) Shares Pass Below 50-Day Moving Average – Should You Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.69 and traded as low as $5.78. PIMCO Strategic Income Fund shares last traded at $5.7990, with a volume of 332,789 shares trading hands.

PIMCO Strategic Income Fund Trading Up 4.1%

The firm’s fifty day simple moving average is $6.69 and its 200 day simple moving average is $7.04.

PIMCO Strategic Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were given a dividend of $0.04 per share. This represents a c) annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend was Thursday, December 11th.

Institutional Trading of PIMCO Strategic Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank lifted its holdings in PIMCO Strategic Income Fund by 959.0% during the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock worth $33,000 after buying an additional 4,795 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of PIMCO Strategic Income Fund during the 1st quarter worth about $63,000. StoneX Group Inc. acquired a new stake in shares of PIMCO Strategic Income Fund during the 2nd quarter worth about $72,000. Focus Partners Advisor Solutions LLC purchased a new stake in PIMCO Strategic Income Fund during the second quarter worth approximately $80,000. Finally, First Trust Advisors LP acquired a new position in PIMCO Strategic Income Fund in the second quarter valued at approximately $85,000. 13.48% of the stock is currently owned by institutional investors and hedge funds.

About PIMCO Strategic Income Fund

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.