PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Large Decline in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 117,423 shares, a drop of 40.0% from the June 15th total of 195,597 shares. Based on an average daily volume of 279,129 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PCN. Rivernorth Capital Management LLC purchased a new position in shares of PIMCO Corporate & Income Strategy Fund in the fourth quarter worth about $3,875,000. Wells Fargo & Company MN boosted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 69.6% during the fourth quarter. Wells Fargo & Company MN now owns 381,317 shares of the investment management company’s stock worth $4,866,000 after purchasing an additional 156,439 shares during the period. Astoria Portfolio Advisors LLC. bought a new stake in shares of PIMCO Corporate & Income Strategy Fund in the first quarter worth about $1,524,000. GHE LLC increased its holdings in 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 valued at $8,902,000 after purchasing an additional 122,079 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in PIMCO Corporate & Income Strategy Fund during the 4th quarter valued at about $1,492,000.

PIMCO Corporate & Income Strategy Fund Price Performance

NYSE:PCN traded down $0.01 during mid-day trading on Friday, reaching $11.76. 186,550 shares of the company’s stock were exchanged, compared to its average volume of 352,153. PIMCO Corporate & Income Strategy Fund has a one year low of $11.40 and a one year high of $13.49. The business’s fifty day simple moving average is $11.78 and its two-hundred day simple moving average is $12.18.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a $0.1125 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Monday, July 13th.

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.