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 trimmed its holdings in shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Free Report) by 94.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings 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 worth $12,370,000 after acquiring an additional 1,162,247 shares during the last quarter. LPL Financial LLC increased its stake in shares of PIMCO Strategic Income Fund by 15.5% in the fourth quarter. LPL Financial LLC now owns 1,239,924 shares of the investment management company's stock valued at $9,448,000 after buying an additional 166,096 shares during the period. Raymond James Financial Inc. acquired a new position in shares of PIMCO Strategic Income Fund in the fourth quarter valued at approximately $442,000. Keystone Financial Group acquired a new position in shares of PIMCO Strategic Income Fund in the fourth quarter valued at approximately $407,000. Finally, 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 buying an additional 31,724 shares during the period. 13.48% of the stock is owned by institutional investors.

PIMCO Strategic Income Fund Price Performance

RCS stock remained flat at $7.08 during trading on Friday. The company had a trading volume of 127,059 shares, compared to its average volume of 87,434. The stock has a 50 day moving average price of $6.88 and a 200-day moving average price of $6.40. PIMCO Strategic Income Fund, Inc. has a 1-year low of $5.25 and a 1-year high of $8.09.

PIMCO Strategic Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 11th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a c) annualized dividend and a yield of 6.8%.

About PIMCO Strategic Income Fund

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.