Sit Investment Associates Inc. Acquires 570,125 Shares of TCW Strategic Income Fund, Inc. (NYSE:TSI)

Key Points

• Sit Investment Associates Inc. has increased its holdings in TCW Strategic Income Fund by 8.2%, acquiring an additional 570,125 shares, totaling 7,486,736 shares owned.
• TCW Strategic Income Fund recently announced a $0.065 quarterly dividend, reflecting an annualized yield of 5.3% for shareholders of record as of June 30.
• As of the latest quarter, institutional investors hold 35.22% of TCW Strategic Income Fund's stock, indicating strong institutional interest in the fund.

Sit Investment Associates Inc. increased its position in TCW Strategic Income Fund, Inc. (NYSE:TSI - Free Report) by 8.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,486,736 shares of the financial services provider's stock after buying an additional 570,125 shares during the period. TCW Strategic Income Fund comprises approximately 0.9% of Sit Investment Associates Inc.'s holdings, making the stock its 23rd largest position. Sit Investment Associates Inc. owned 15.67% of TCW Strategic Income Fund worth $36,386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. boosted its holdings in TCW Strategic Income Fund by 107,262.5% in the 1st quarter. NBC Securities Inc. now owns 8,589 shares of the financial services provider's stock worth $41,000 after buying an additional 8,581 shares during the period. Avidian Wealth Enterprises LLC bought a new position in shares of TCW Strategic Income Fund during the 1st quarter valued at about $49,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of TCW Strategic Income Fund during the 4th quarter valued at about $49,000. Sowell Financial Services LLC bought a new position in shares of TCW Strategic Income Fund during the 1st quarter valued at about $162,000. Finally, Bank of America Corp DE boosted its holdings in shares of TCW Strategic Income Fund by 11.7% during the 4th quarter. Bank of America Corp DE now owns 39,930 shares of the financial services provider's stock valued at $192,000 after purchasing an additional 4,167 shares during the last quarter. Institutional investors own 35.22% of the company's stock.

TCW Strategic Income Fund Stock Up 0.2%

Shares of TSI traded up $0.01 during midday trading on Friday, hitting $4.92. 22,526 shares of the company traded hands, compared to its average volume of 49,434. The firm has a 50 day moving average of $4.91 and a 200-day moving average of $4.89. TCW Strategic Income Fund, Inc. has a 52 week low of $4.61 and a 52 week high of $5.21.

TCW Strategic Income Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, June 30th.

TCW Strategic Income Fund Company Profile

TCW Strategic Income Fund, Inc is a close-ended balanced mutual fund launched by The TCW Group, Inc The fund is managed by TCW Investment Management Company. It invests in the public equity and fixed income markets of the United States. The fund makes its investments in securities of companies operating across diversified sectors.