IFP Advisors Inc Sells 301,657 Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS)

Key Points

• IFP Advisors Inc reduced its holdings in PIMCO Strategic Income Fund by 94.1%, now owning only 18,913 shares after selling 301,657 shares in Q1.
• Several hedge funds, including Vanguard Capital Wealth Advisors and Keystone Financial Group, have recently made new investments in the fund, indicating increasing institutional interest.
• The monthly dividend announced for August 1st will pay $0.04 per share, equating to an annualized yield of 6.80%.

IFP Advisors Inc lessened its stake in PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Free Report) by 94.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,913 shares of the investment management company's stock after selling 301,657 shares during the quarter. IFP Advisors Inc's holdings in PIMCO Strategic Income Fund were worth $118,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mutual Advisors LLC raised its stake in PIMCO Strategic Income Fund by 32.8% during the first quarter. Mutual Advisors LLC now owns 65,258 shares of the investment management company's stock worth $408,000 after acquiring an additional 16,101 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of PIMCO Strategic Income Fund by 142.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,979,232 shares of the investment management company's stock valued at $12,370,000 after purchasing an additional 1,162,247 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of PIMCO Strategic Income Fund by 15.2% in the first quarter. Janney Montgomery Scott LLC now owns 141,651 shares of the investment management company's stock valued at $885,000 after purchasing an additional 18,687 shares during the period. Milestone Asset Management LLC increased its stake in shares of PIMCO Strategic Income Fund by 23.7% in the first quarter. Milestone Asset Management LLC now owns 165,583 shares of the investment management company's stock valued at $1,035,000 after purchasing an additional 31,724 shares during the period. Finally, Vanguard Capital Wealth Advisors acquired a new stake in shares of PIMCO Strategic Income Fund in the fourth quarter valued at approximately $190,000. Institutional investors and hedge funds own 13.48% of the company's stock.

PIMCO Strategic Income Fund Stock Performance

Shares of NYSE:RCS remained flat at $7.08 during trading hours on Friday. 126,879 shares of the company's stock traded hands, compared to its average volume of 160,561. The firm has a fifty day moving average price of $6.85 and a two-hundred day moving average price of $6.39. PIMCO Strategic Income Fund, Inc. has a 12 month low of $5.25 and a 12 month high of $8.09.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a c) dividend on an annualized basis and a yield of 6.8%.

PIMCO Strategic Income Fund Profile

PIMCO Strategic Global Government Fund, Inc 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 fixed income markets across the globe. The fund primarily invests in government securities, including bonds issued or guaranteed by the United States or foreign governments, by their agencies, authorities or instrumentalities, or by supranational entities.