PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Increase in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 161,399 shares, an increase of 73.5% from the April 30th total of 93,032 shares. Based on an average daily volume of 317,661 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCN. Mission Hills Financial Advisory LLC grew its stake in shares of PIMCO Corporate & Income Strategy Fund by 4.3% during the fourth quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock valued at $15,694,000 after buying an additional 50,612 shares during the last quarter. GHE LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 19.5% during the 1st quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock worth $8,902,000 after acquiring an additional 122,079 shares during the last quarter. LPL Financial LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 10.4% during the 4th quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock worth $7,313,000 after acquiring an additional 54,094 shares during the last quarter. Invesco Ltd. boosted its holdings in PIMCO Corporate & Income Strategy Fund by 1.7% during the 4th quarter. Invesco Ltd. now owns 475,794 shares of the investment management company’s stock valued at $6,071,000 after acquiring an additional 7,826 shares during the period. Finally, Elevated Capital Advisors LLC grew its position in PIMCO Corporate & Income Strategy Fund by 10.2% in the 1st quarter. Elevated Capital Advisors LLC now owns 399,746 shares of the investment management company’s stock valued at $4,757,000 after acquiring an additional 37,135 shares during the last quarter.

PIMCO Corporate & Income Strategy Fund Stock Up 1.0%

Shares of PCN stock traded up $0.12 during trading hours on Thursday, reaching $11.78. 148,374 shares of the company traded hands, compared to its average volume of 360,018. PIMCO Corporate & Income Strategy Fund has a 12-month low of $11.40 and a 12-month high of $13.49. The firm has a 50-day moving average price of $11.88 and a 200 day moving average price of $12.35.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Thursday, June 11th.

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.