PIMCO Income Strategy Fund (NYSE:PFL) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Income Strategy Fund (NYSE:PFL) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.38 and traded as low as $7.60. PIMCO Income Strategy Fund shares last traded at $7.6950, with a volume of 253,539 shares trading hands.

PIMCO Income Strategy Fund Price Performance

The company’s 50-day moving average is $8.27 and its 200-day moving average is $8.38.

PIMCO Income Strategy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a $0.0814 dividend. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Thursday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of PIMCO Income Strategy Fund by 9.6% in the 1st quarter. Royal Bank of Canada now owns 167,070 shares of the investment management company’s stock worth $1,437,000 after purchasing an additional 14,645 shares during the last quarter. Jane Street Group LLC bought a new position in PIMCO Income Strategy Fund during the 1st quarter valued at about $94,000. Cetera Investment Advisers boosted its position in PIMCO Income Strategy Fund by 44.8% in the second quarter. Cetera Investment Advisers now owns 144,500 shares of the investment management company’s stock valued at $1,205,000 after buying an additional 44,717 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in PIMCO Income Strategy Fund by 27.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,142 shares of the investment management company’s stock valued at $126,000 after buying an additional 3,230 shares in the last quarter. Finally, Invesco Ltd. grew its stake in PIMCO Income Strategy Fund by 3.3% during the second quarter. Invesco Ltd. now owns 317,312 shares of the investment management company’s stock worth $2,646,000 after buying an additional 10,168 shares during the last quarter.

PIMCO Income Strategy Fund Company Profile

PIMCO Income Strategy Fund (NYSE: PFL) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of capital appreciation. The fund employs a flexible, multi-sector approach to building a diversified portfolio of global fixed-income securities and may use leverage to enhance income potential. Managed by Pacific Investment Management Company LLC (PIMCO), the fund leverages the firm’s extensive credit research and risk management capabilities.

The fund’s investment strategy spans corporate debt, asset-backed and mortgage-backed securities, government and agency obligations, and emerging markets debt.