Northwestern Mutual Wealth Management Co. Makes New $536,000 Investment in PIMCO Income Strategy Fund II $PFN

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of PIMCO Income Strategy Fund II (NYSE:PFN) in the second quarter, HoldingsChannel.com reports. The fund acquired 75,212 shares of the financial services provider’s stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in shares of PIMCO Income Strategy Fund II by 39,179.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,479,247 shares of the financial services provider’s stock worth $11,094,000 after buying an additional 1,475,481 shares during the period. Wells Fargo & Company MN grew its position in shares of PIMCO Income Strategy Fund II by 67.1% in the 4th quarter. Wells Fargo & Company MN now owns 782,179 shares of the financial services provider’s stock worth $5,866,000 after buying an additional 314,150 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of PIMCO Income Strategy Fund II during the fourth quarter valued at approximately $2,340,000. Royal Bank of Canada increased its stake in shares of PIMCO Income Strategy Fund II by 404.2% during the first quarter. Royal Bank of Canada now owns 378,002 shares of the financial services provider’s stock valued at $2,605,000 after buying an additional 303,031 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of PIMCO Income Strategy Fund II by 243.4% during the first quarter. Bank of America Corp DE now owns 400,642 shares of the financial services provider’s stock valued at $2,760,000 after acquiring an additional 283,970 shares in the last quarter.

PIMCO Income Strategy Fund II Stock Down 0.4%

Shares of PFN stock opened at $6.96 on Thursday. The stock has a fifty day moving average of $7.05 and a 200 day moving average of $7.03. PIMCO Income Strategy Fund II has a 52 week low of $6.53 and a 52 week high of $7.67.

PIMCO Income Strategy Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a $0.0718 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Thursday, August 13th.

PIMCO Income Strategy Fund II Profile

PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.

The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.