PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Shares Down 3.7% – Here’s What Happened

PIMCO Dynamic Income Strategy Fund (NYSE:PDX)’s share price traded down 3.7% during mid-day trading on Friday . The company traded as low as $26.91 and last traded at $27.12. 449,380 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 611,619 shares. The stock had previously closed at $28.15.

PIMCO Dynamic Income Strategy Fund Stock Performance

The stock’s 50-day moving average is $27.11 and its 200 day moving average is $24.64.

PIMCO Dynamic Income Strategy Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a dividend of $0.1334 per share. This represents a $1.60 annualized dividend and a yield of 5.90%. This is a boost from PIMCO Dynamic Income Strategy Fund’s previous monthly dividend of $0.11. The ex-dividend date of this dividend is Monday, January 13th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 92,819 shares of the stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $24.79 per share, for a total transaction of $2,300,983.01. Following the transaction, the insider now owns 6,364,181 shares in the company, valued at approximately $157,768,046.99. This trade represents a 1.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 966,309 shares of company stock valued at $26,176,242 over the last 90 days.

Institutional Trading of PIMCO Dynamic Income Strategy Fund

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP increased its stake in PIMCO Dynamic Income Strategy Fund by 10.5% in the third quarter. Allworth Financial LP now owns 10,500 shares of the company’s stock valued at $248,000 after purchasing an additional 1,000 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of PIMCO Dynamic Income Strategy Fund by 7.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 14,840 shares of the company’s stock valued at $350,000 after buying an additional 1,041 shares during the period. HighTower Advisors LLC lifted its position in PIMCO Dynamic Income Strategy Fund by 3.0% during the 3rd quarter. HighTower Advisors LLC now owns 56,482 shares of the company’s stock worth $1,337,000 after acquiring an additional 1,644 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in PIMCO Dynamic Income Strategy Fund by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,575 shares of the company’s stock worth $433,000 after acquiring an additional 1,650 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of PIMCO Dynamic Income Strategy Fund by 13.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,965 shares of the company’s stock valued at $424,000 after purchasing an additional 2,087 shares during the period.