PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

PIMCO Strategic Income Fund, Inc. (NYSE:RCS) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.42 and traded as low as $5.19. PIMCO Strategic Income Fund shares last traded at $5.20, with a volume of 125,041 shares changing hands.

PIMCO Strategic Income Fund Stock Down 0.3%

The stock has a 50 day moving average of $5.41 and a two-hundred day moving average of $5.58.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Institutional Trading of PIMCO Strategic Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of RCS. Comerica Bank grew its stake in PIMCO Strategic Income Fund by 959.0% in the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company’s stock valued at $33,000 after buying an additional 4,795 shares during the last quarter. Fifth Third Bancorp acquired a new position in PIMCO Strategic Income Fund during the 1st quarter worth $28,000. Keudell Morrison Wealth Management bought a new stake in PIMCO Strategic Income Fund during the fourth quarter valued at about $56,000. StoneX Group Inc. bought a new stake in PIMCO Strategic Income Fund during the second quarter valued at about $72,000. Finally, First Trust Advisors LP acquired a new stake in shares of PIMCO Strategic Income Fund in the second quarter valued at about $85,000. 13.48% of the stock is currently owned by institutional investors and hedge funds.

About PIMCO Strategic Income Fund

PIMCO Strategic Income Fund (NYSE: RCS) is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world’s leading fixed income investment managers, and leverages PIMCO’s global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund’s investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.