PIMCO Income Strategy Fund (NYSE:PFL) Stock Passes Below 200 Day Moving Average of $7.91

Shares of PIMCO Income Strategy Fund (NYSE:PFL) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.91 and traded as low as $7.56. PIMCO Income Strategy Fund shares last traded at $7.63, with a volume of 84,865 shares trading hands.

PIMCO Income Strategy Fund Stock Performance

The company’s 50-day simple moving average is $7.61 and its 200 day simple moving average is $7.91.

PIMCO Income Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $0.0814 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.98 annualized dividend and a yield of 12.80%.

Hedge Funds Weigh In On PIMCO Income Strategy Fund

Several institutional investors have recently bought and sold shares of the business. Gallagher Fiduciary Advisors LLC bought a new position in PIMCO Income Strategy Fund during the first quarter valued at $4,077,000. Morgan Stanley raised its stake in shares of PIMCO Income Strategy Fund by 6.9% in the fourth quarter. Morgan Stanley now owns 280,138 shares of the investment management company’s stock valued at $2,272,000 after acquiring an additional 18,098 shares during the period. Guggenheim Capital LLC raised its stake in shares of PIMCO Income Strategy Fund by 13.6% in the second quarter. Guggenheim Capital LLC now owns 227,390 shares of the investment management company’s stock valued at $1,862,000 after acquiring an additional 27,194 shares during the period. Royal Bank of Canada raised its stake in shares of PIMCO Income Strategy Fund by 45.4% in the first quarter. Royal Bank of Canada now owns 225,789 shares of the investment management company’s stock valued at $2,303,000 after acquiring an additional 70,531 shares during the period. Finally, Shaker Financial Services LLC raised its stake in shares of PIMCO Income Strategy Fund by 31.8% in the second quarter. Shaker Financial Services LLC now owns 215,945 shares of the investment management company’s stock valued at $1,786,000 after acquiring an additional 52,064 shares during the period.

About PIMCO Income Strategy Fund

PIMCO 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 fixed income markets across the globe. The fund invests in a diversified portfolio of floating rate debt instruments with an average duration of around three years.