PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

PIMCO Corporate & Income Strategy Fund (NYSE:PCN)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.42 and traded as low as $12.59. PIMCO Corporate & Income Strategy Fund shares last traded at $12.61, with a volume of 321,122 shares traded.

PIMCO Corporate & Income Strategy Fund Price Performance

The company has a 50-day simple moving average of $12.88 and a 200 day simple moving average of $13.42.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be paid a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a dividend yield of 10.70%. The ex-dividend date is Monday, May 12th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PCN. Assetmark Inc. acquired a new position in shares of PIMCO Corporate & Income Strategy Fund during the 1st quarter worth approximately $34,000. Harbour Investments Inc. raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 68.7% during the 1st quarter. Harbour Investments Inc. now owns 2,498 shares of the investment management company’s stock worth $34,000 after buying an additional 1,017 shares during the period. NBC Securities Inc. raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 118,233.3% during the 1st quarter. NBC Securities Inc. now owns 7,100 shares of the investment management company’s stock worth $96,000 after buying an additional 7,094 shares during the period. Keystone Financial Group acquired a new position in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter worth approximately $134,000. Finally, Alpha Cubed Investments LLC acquired a new position in shares of PIMCO Corporate & Income Strategy Fund during the 4th quarter worth approximately $144,000.

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.