PIMCO Dynamic Income Fund (NYSE:PDI) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.47 and traded as high as $17.72. PIMCO Dynamic Income Fund shares last traded at $17.6960, with a volume of 2,386,351 shares changing hands.

PIMCO Dynamic Income Fund Stock Performance

The business’s 50 day simple moving average is $17.47 and its 200-day simple moving average is $17.91.

PIMCO Dynamic Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a dividend of $0.2205 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 14.9%.

Institutional Investors Weigh In On PIMCO Dynamic Income Fund

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in shares of PIMCO Dynamic Income Fund by 206.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 249,215 shares of the company’s stock valued at $4,264,000 after buying an additional 167,912 shares during the period. World Equity Group Inc. boosted its stake in shares of PIMCO Dynamic Income Fund by 26.2% during the 1st quarter. World Equity Group Inc. now owns 38,241 shares of the company’s stock valued at $654,000 after buying an additional 7,934 shares during the period. Fiscal Wisdom Wealth Management LLC acquired a new stake in shares of PIMCO Dynamic Income Fund during the 1st quarter valued at $179,000. Independent Financial Group LLC acquired a new stake in shares of PIMCO Dynamic Income Fund in the 1st quarter valued at $8,898,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of PIMCO Dynamic Income Fund by 38.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 16,436 shares of the company’s stock valued at $281,000 after purchasing an additional 4,600 shares during the last quarter.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (“PIMCO”), one of the world’s largest fixed-income asset managers. Listed on the New York Stock Exchange, PDI seeks to deliver attractive monthly income and capital appreciation by allocating across a broad array of global fixed-income markets.

The fund employs a dynamic, multi-sector approach, investing in a diversified mix of investment-grade and high-yield corporate bonds, bank loans, emerging-market debt, mortgage- and asset-backed securities, and U.S.