Diversified Management Inc. Makes New Investment in TCW Strategic Income Fund, Inc. $TSI

Key Points

• Diversified Management Inc. opened a new position of 1,012,610 shares (~$5.0M) in TCW Strategic Income Fund during Q4, representing about 1.2% of its portfolio and the firm's 21st largest holding.
• The fund raised its monthly dividend to $0.0283 per share (annualized yield ~7.4%); the ex-dividend and record date were April 15 with payment scheduled for April 30.
• Director Peter McMillan bought 50,000 shares at an average $4.64 on Feb. 20, and insiders have acquired 257,390 shares in the last 90 days, though insiders still own only 0.23% of the company.

Diversified Management Inc. bought a new position in TCW Strategic Income Fund, Inc. (NYSE:TSI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,012,610 shares of the financial services provider's stock, valued at approximately $5,002,000. TCW Strategic Income Fund makes up about 1.2% of Diversified Management Inc.'s portfolio, making the stock its 21st largest holding. Diversified Management Inc. owned 2.12% of TCW Strategic Income Fund at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Focus Partners Wealth bought a new stake in TCW Strategic Income Fund during the 1st quarter valued at $50,000. Jane Street Group LLC bought a new position in shares of TCW Strategic Income Fund during the 2nd quarter worth approximately $343,000. Bank of America Corp DE raised its stake in shares of TCW Strategic Income Fund by 13.6% during the 2nd quarter. Bank of America Corp DE now owns 41,740 shares of the financial services provider's stock worth $204,000 after acquiring an additional 5,001 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of TCW Strategic Income Fund during the 2nd quarter worth approximately $82,000. Finally, Riverbridge Partners LLC grew its position in TCW Strategic Income Fund by 2.5% during the 3rd quarter. Riverbridge Partners LLC now owns 174,353 shares of the financial services provider's stock worth $858,000 after purchasing an additional 4,252 shares during the last quarter. Hedge funds and other institutional investors own 35.22% of the company's stock.

TCW Strategic Income Fund Price Performance

NYSE:TSI opened at $4.57 on Thursday. TCW Strategic Income Fund, Inc. has a twelve month low of $4.43 and a twelve month high of $5.06. The company's 50 day moving average is $4.63 and its two-hundred day moving average is $4.82.

TCW Strategic Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.0283 per share. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Wednesday, April 15th. This is a positive change from TCW Strategic Income Fund's previous monthly dividend of $0.02.

Insider Buying and Selling

In other TCW Strategic Income Fund news, Director Peter Mcmillan acquired 50,000 shares of the firm's stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $4.64 per share, for a total transaction of $232,000.00. Following the purchase, the director owned 300,000 shares in the company, valued at approximately $1,392,000. The trade was a 20.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 257,390 shares of company stock worth $1,212,712. Insiders own 0.23% of the company's stock.

About TCW Strategic Income Fund

TCW Strategic Income Fund NYSE: TSI is a diversified, closed-end management investment company that seeks to provide total return through high current income and capital appreciation. The fund primarily invests in a broad array of fixed-income securities, including corporate debt, high-yield bonds, mortgage- and asset-backed securities, and emerging market debt. By combining multiple credit sectors with a flexible duration approach, the fund aims to generate attractive yields while managing interest-rate and credit risks in varying market environments.

Under the management of TCW Asset Management Company LLC, a subsidiary of TCW Group founded in 1971, TSI leverages the firm's deep credit research capabilities and global trading platforms.

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