PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Drop in Short Interest
by Teresa Graham · The Cerbat GemPIMCO Corporate & Income Strategy Fund (NYSE:PCN – Get Free Report) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 93,032 shares, a decrease of 35.5% from the April 15th total of 144,271 shares. Based on an average trading volume of 269,564 shares, the days-to-cover ratio is currently 0.3 days.
PIMCO Corporate & Income Strategy Fund Stock Performance
PIMCO Corporate & Income Strategy Fund stock traded down $0.14 during mid-day trading on Monday, hitting $11.62. The company’s stock had a trading volume of 490,351 shares, compared to its average volume of 370,307. The company has a 50 day moving average of $11.96 and a 200-day moving average of $12.46. PIMCO Corporate & Income Strategy Fund has a one year low of $11.40 and a one year high of $13.49.
PIMCO Corporate & Income Strategy Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%.
Hedge Funds Weigh In On PIMCO Corporate & Income Strategy Fund
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mission Hills Financial Advisory LLC grew its position in shares of PIMCO Corporate & Income Strategy Fund by 4.3% during the 4th quarter. Mission Hills Financial Advisory LLC now owns 1,229,934 shares of the investment management company’s stock worth $15,694,000 after buying an additional 50,612 shares in the last quarter. GHE LLC grew its position in shares of PIMCO Corporate & Income Strategy Fund by 19.5% during the 1st quarter. GHE LLC now owns 748,086 shares of the investment management company’s stock worth $8,902,000 after buying an additional 122,079 shares in the last quarter. LPL Financial LLC grew its position in shares of PIMCO Corporate & Income Strategy Fund by 10.4% during the 4th quarter. LPL Financial LLC now owns 573,104 shares of the investment management company’s stock worth $7,313,000 after buying an additional 54,094 shares in the last quarter. Invesco Ltd. grew its position in shares of PIMCO Corporate & Income Strategy Fund by 1.7% during the 4th quarter. Invesco Ltd. now owns 475,794 shares of the investment management company’s stock worth $6,071,000 after buying an additional 7,826 shares in the last quarter. Finally, Elevated Capital Advisors LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 10.2% during the 1st quarter. Elevated Capital Advisors LLC now owns 399,746 shares of the investment management company’s stock worth $4,757,000 after purchasing an additional 37,135 shares during the last quarter.
PIMCO Corporate & Income Strategy Fund Company Profile
PIMCO Corporate & Income Strategy Fund (NYSE: PCN) is a diversified, closed-end management investment company that seeks to maximize current income while preserving capital and, secondarily, achieving long-term growth of capital. Listed on the New York Stock Exchange, the fund provides investors with actively managed exposure to global fixed-income markets through a pooled vehicle structure that can trade at premiums or discounts to net asset value.
The fund pursues its income objective by investing primarily in U.S.