PIMCO Income Strategy Fund II (NYSE:PFN) Short Interest Update
by Mitch Edgeman · The Markets DailyPIMCO Income Strategy Fund II (NYSE:PFN – Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 154,771 shares, a drop of 43.0% from the March 15th total of 271,432 shares. Based on an average daily trading volume, of 808,965 shares, the days-to-cover ratio is presently 0.2 days.
PIMCO Income Strategy Fund II Stock Performance
Shares of PFN traded up $0.02 on Wednesday, reaching $7.04. The company’s stock had a trading volume of 254,716 shares, compared to its average volume of 516,907. The stock’s 50 day simple moving average is $7.09 and its two-hundred day simple moving average is $7.33. PIMCO Income Strategy Fund II has a 12-month low of $6.53 and a 12-month high of $7.67.
PIMCO Income Strategy Fund II Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Monday, April 13th will be issued a $0.0718 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%.
Hedge Funds Weigh In On PIMCO Income Strategy Fund II
A number of institutional investors and hedge funds have recently made changes to their positions in PFN. Steward Partners Investment Advisory LLC boosted its holdings in shares of PIMCO Income Strategy Fund II by 39,179.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,479,247 shares of the financial services provider’s stock worth $11,094,000 after buying an additional 1,475,481 shares during the last quarter. Gridiron Partners LLC lifted its holdings in PIMCO Income Strategy Fund II by 4,006.2% during the third quarter. Gridiron Partners LLC now owns 446,306 shares of the financial services provider’s stock valued at $3,387,000 after purchasing an additional 435,437 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in PIMCO Income Strategy Fund II by 67.1% during the fourth quarter. Wells Fargo & Company MN now owns 782,179 shares of the financial services provider’s stock valued at $5,866,000 after purchasing an additional 314,150 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in PIMCO Income Strategy Fund II during the fourth quarter valued at approximately $2,340,000. Finally, Centaurus Financial Inc. lifted its holdings in PIMCO Income Strategy Fund II by 235.0% during the second quarter. Centaurus Financial Inc. now owns 356,600 shares of the financial services provider’s stock valued at $2,635,000 after purchasing an additional 250,137 shares in the last quarter.
PIMCO Income Strategy Fund II Company Profile
PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.
The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.