Diversified Management Inc. Lowers Holdings in TCW Strategic Income Fund, Inc. $TSI

Key Points

• Diversified Management Inc. cut its TCW Strategic Income Fund position by 35.9% in the third quarter, selling 466,410 shares and retaining 834,352 shares worth approximately $3.59 million.
• Institutional investors own 35.22% of TSI, with several firms—including Sit Investment Associates and JP Wealth Management—recently increasing their holdings.
• TSI shares opened at $4.21, near their 12-month low, while the fund announced a monthly dividend of $0.0283, equivalent to an annualized yield of approximately 8.1%.

Diversified Management Inc. trimmed its position in TCW Strategic Income Fund, Inc. (NYSE:TSI - Free Report) by 35.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 834,352 shares of the financial services provider's stock after selling 466,410 shares during the quarter. Diversified Management Inc. owned 1.75% of TCW Strategic Income Fund worth $3,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSI. Sit Investment Associates Inc. raised its position in TCW Strategic Income Fund by 8.1% in the fourth quarter. Sit Investment Associates Inc. now owns 10,208,852 shares of the financial services provider's stock worth $50,432,000 after purchasing an additional 766,863 shares in the last quarter. Hara Capital LLC bought a new position in shares of TCW Strategic Income Fund during the 2nd quarter worth approximately $3,406,000. Rareview Capital LLC lifted its position in shares of TCW Strategic Income Fund by 1,911.9% during the 2nd quarter. Rareview Capital LLC now owns 307,541 shares of the financial services provider's stock worth $1,501,000 after buying an additional 292,255 shares during the period. JP Wealth Management Inc. boosted its stake in TCW Strategic Income Fund by 3.5% in the 3rd quarter. JP Wealth Management Inc. now owns 4,652,246 shares of the financial services provider's stock valued at $20,005,000 after buying an additional 158,759 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in TCW Strategic Income Fund in the 1st quarter valued at $664,000. 35.22% of the stock is owned by institutional investors.

TCW Strategic Income Fund Trading Up 0.1%

Shares of TCW Strategic Income Fund stock opened at $4.21 on Friday. TCW Strategic Income Fund, Inc. has a 12-month low of $4.17 and a 12-month high of $4.98. The company has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $4.45.

TCW Strategic Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $0.0283 dividend. The ex-dividend date is Friday, October 16th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 8.1%.

TCW Strategic Income Fund Company Profile

TCW Strategic Income Fund NYSE: TSI is a closed-end management investment company advised by TCW Investment Management Company. The fund seeks to provide a high level of current income while also pursuing long-term total return through active management of a diversified fixed-income portfolio.

Its investments may include below-investment-grade and other high-yield corporate bonds, emerging-market debt, bank loans, mortgage- and asset-backed securities, and other domestic and international fixed-income instruments.

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