PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.88 and traded as low as $12.60. PIMCO Corporate & Income Strategy Fund shares last traded at $12.63, with a volume of 317,344 shares trading hands.

PIMCO Corporate & Income Strategy Fund Trading Down 0.3%

The company has a fifty day simple moving average of $12.76 and a two-hundred day simple moving average of $12.88.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.1125 per share. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date is Thursday, February 12th.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Objective Capital Management LLC boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 19.7% in the third quarter. Objective Capital Management LLC now owns 19,145 shares of the investment management company’s stock valued at $256,000 after acquiring an additional 3,145 shares in the last quarter. Ellis Investment Partners LLC raised its holdings in PIMCO Corporate & Income Strategy Fund by 16.7% during the third quarter. Ellis Investment Partners LLC now owns 13,021 shares of the investment management company’s stock worth $174,000 after purchasing an additional 1,865 shares in the last quarter. Elm3 Financial Group LLC lifted its position in PIMCO Corporate & Income Strategy Fund by 6.2% in the third quarter. Elm3 Financial Group LLC now owns 34,500 shares of the investment management company’s stock valued at $462,000 after purchasing an additional 2,010 shares during the period. Westbourne Investment Advisors Inc. lifted its position in PIMCO Corporate & Income Strategy Fund by 14.8% in the third quarter. Westbourne Investment Advisors Inc. now owns 50,500 shares of the investment management company’s stock valued at $676,000 after purchasing an additional 6,500 shares during the period. Finally, GHE LLC boosted its holdings in PIMCO Corporate & Income Strategy Fund by 7.9% in the 2nd quarter. GHE LLC now owns 608,299 shares of the investment management company’s stock valued at $7,719,000 after purchasing an additional 44,743 shares in the last quarter.

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.