Pimco Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Above 50-Day Moving Average of $18.72

Posted by on Nov 16th, 2019 // Comments off

Shares of Pimco Corporate & Income Strategy Fund (NYSE:PCN) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.72 and traded as high as $19.02. Pimco Corporate & Income Strategy Fund shares last traded at $19.02, with a volume of 1,065 shares changing hands.

The company’s 50-day simple moving average is $18.76 and its 200 day simple moving average is $17.95.

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.112 per share. This represents a $1.34 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Friday, November 8th.

Hedge funds have recently added to or reduced their stakes in the business. North Star Investment Management Corp. purchased a new stake in shares of Pimco Corporate & Income Strategy Fund during the third quarter valued at about $28,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Pimco Corporate & Income Strategy Fund during the second quarter valued at about $39,000. FNY Investment Advisers LLC lifted its position in shares of Pimco Corporate & Income Strategy Fund by 623.5% during the third quarter. FNY Investment Advisers LLC now owns 2,344 shares of the investment management company’s stock valued at $43,000 after buying an additional 2,020 shares during the last quarter. Nvwm LLC purchased a new stake in shares of Pimco Corporate & Income Strategy Fund during the second quarter valued at about $43,000. Finally, Quad Cities Investment Group LLC lifted its position in shares of Pimco Corporate & Income Strategy Fund by 55.6% during the second quarter. Quad Cities Investment Group LLC now owns 3,000 shares of the investment management company’s stock valued at $51,000 after buying an additional 1,072 shares during the last quarter.

About Pimco Corporate & Income Strategy Fund (NYSE:PCN)

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.

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