PIMCO Income Strategy Fund (NYSE:PFL) Sees Large Decline in Short Interest

PIMCO Income Strategy Fund (NYSE:PFL) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 236,266 shares, a decrease of 50.3% from the August 15th total of 475,278 shares. Based on an average daily trading volume, of 138,094 shares, the short-interest ratio is presently 1.7 days.

PIMCO Income Strategy Fund Stock Performance

NYSE PFL traded up $0.02 during trading hours on Wednesday, reaching $7.16. The company’s stock had a trading volume of 409,125 shares, compared to its average volume of 209,820. The business has a 50-day simple moving average of $7.65 and a 200 day simple moving average of $7.82. PIMCO Income Strategy Fund has a 52 week low of $7.01 and a 52 week high of $8.70.

PIMCO Income Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.0814 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date is Friday, September 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in PIMCO Income Strategy Fund in the fourth quarter worth $29,000. Allworth Financial LP bought a new position in shares of PIMCO Income Strategy Fund during the second quarter worth about $32,000. Integrated Wealth Concepts LLC bought a new position in shares of PIMCO Income Strategy Fund during the second quarter worth about $75,000. Sprinkle Financial Consultants LLC acquired a new stake in shares of PIMCO Income Strategy Fund in the 1st quarter worth about $80,000. Finally, CoreCap Advisors LLC increased its holdings in shares of PIMCO Income Strategy Fund by 47.9% in the 2nd quarter. CoreCap Advisors LLC now owns 12,345 shares of the investment management company’s stock worth $97,000 after acquiring an additional 4,000 shares during the period.

About PIMCO Income Strategy Fund

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.