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

Shares of PIMCO Corporate & Income Strategy Fund (NYSE:PCN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.29 and traded as low as $11.74. PIMCO Corporate & Income Strategy Fund shares last traded at $11.7550, with a volume of 282,098 shares trading hands.

PIMCO Corporate & Income Strategy Fund Price Performance

The stock’s 50-day moving average price is $11.86 and its 200-day moving average price is $12.29.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Westbourne Investment Advisors Inc. grew its position in PIMCO Corporate & Income Strategy Fund by 2.0% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 51,500 shares of the investment management company’s stock valued at $657,000 after purchasing an additional 1,000 shares during the period. Uptown Financial Advisors LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the fourth quarter valued at $141,000. Flagship Harbor Advisors LLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund during the fourth quarter worth about $56,000. Rathbones Group PLC bought a new stake in shares of PIMCO Corporate & Income Strategy Fund during the fourth quarter worth about $185,000. Finally, Blue Trust Inc. acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter worth about $163,000.

PIMCO Corporate & Income Strategy Fund Company Profile

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.