PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Large Decrease in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 150,300 shares, a decrease of 18.1% from the October 15th total of 183,600 shares. Based on an average daily volume of 189,300 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund

Several large investors have recently bought and sold shares of the stock. HM Payson & Co. acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 3rd quarter valued at $52,000. Denver PWM LLC acquired a new position in PIMCO Corporate & Income Strategy Fund in the second quarter valued at $77,000. Farther Finance Advisors LLC raised its holdings in shares of PIMCO Corporate & Income Strategy Fund by 715.2% in the third quarter. Farther Finance Advisors LLC now owns 6,212 shares of the investment management company’s stock valued at $88,000 after buying an additional 5,450 shares during the last quarter. Linscomb Wealth Inc. acquired a new stake in shares of PIMCO Corporate & Income Strategy Fund during the first quarter worth about $141,000. Finally, Creative Planning purchased a new position in shares of PIMCO Corporate & Income Strategy Fund during the third quarter worth about $143,000.

PIMCO Corporate & Income Strategy Fund Stock Up 0.1 %

Shares of PCN traded up $0.01 during mid-day trading on Friday, hitting $13.90. 170,683 shares of the company’s stock were exchanged, compared to its average volume of 219,998. The stock’s 50-day moving average is $13.93 and its 200-day moving average is $13.47. PIMCO Corporate & Income Strategy Fund has a fifty-two week low of $11.91 and a fifty-two week high of $14.36.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.71%.

About PIMCO Corporate & Income Strategy Fund

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.