PIMCO Income Strategy Fund (NYSE:PFL) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of PIMCO Income Strategy Fund (NYSE:PFL) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.53 and traded as high as $8.60. PIMCO Income Strategy Fund shares last traded at $8.53, with a volume of 84,351 shares changing hands.

PIMCO Income Strategy Fund Stock Down 0.1 %

The company’s 50 day moving average is $8.53 and its 200-day moving average is $8.35.

PIMCO Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.0814 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.98 annualized dividend and a dividend yield of 11.45%.

Institutional Investors Weigh In On PIMCO Income Strategy Fund

A number of large investors have recently added to or reduced their stakes in PFL. Geneos Wealth Management Inc. boosted its position in PIMCO Income Strategy Fund by 731.7% during the first quarter. Geneos Wealth Management Inc. now owns 4,641 shares of the investment management company’s stock worth $39,000 after purchasing an additional 4,083 shares during the period. Financial Advocates Investment Management bought a new stake in shares of PIMCO Income Strategy Fund during the 3rd quarter worth about $110,000. J.W. Cole Advisors Inc. acquired a new position in PIMCO Income Strategy Fund in the 1st quarter valued at about $142,000. International Assets Investment Management LLC raised its holdings in PIMCO Income Strategy Fund by 782.5% in the 3rd quarter. International Assets Investment Management LLC now owns 25,425 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 22,544 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in PIMCO Income Strategy Fund during the second quarter worth approximately $272,000.

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.