PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Increase in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN – Get Rating) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 97,300 shares, a growth of 109.2% from the January 31st total of 46,500 shares. Based on an average trading volume of 159,600 shares, the short-interest ratio is presently 0.6 days.

PIMCO Corporate & Income Strategy Fund Price Performance

Shares of PIMCO Corporate & Income Strategy Fund stock opened at $13.45 on Wednesday. PIMCO Corporate & Income Strategy Fund has a 52 week low of $11.48 and a 52 week high of $16.07. The stock has a 50 day moving average price of $12.94 and a two-hundred day moving average price of $12.81.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Monday, February 13th will be paid a $0.112 dividend. The ex-dividend date of this dividend is Friday, February 10th. This represents a $1.34 dividend on an annualized basis and a yield of 9.99%.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 9.7% in the third quarter. Oppenheimer & Co. Inc. now owns 18,591 shares of the investment management company’s stock valued at $220,000 after purchasing an additional 1,638 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the third quarter valued at approximately $1,535,000. GHE LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the third quarter valued at approximately $241,000. International Assets Investment Management LLC bought a new position in shares of PIMCO Corporate & Income Strategy Fund in the third quarter valued at approximately $816,000. Finally, Prospera Financial Services Inc lifted its holdings in shares of PIMCO Corporate & Income Strategy Fund by 3.0% in the third quarter. Prospera Financial Services Inc now owns 59,089 shares of the investment management company’s stock valued at $700,000 after purchasing an additional 1,725 shares in the last quarter.

About PIMCO Corporate & Income Strategy Fund

(Get Rating)

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.