TCW Strategic Income Fund, Inc. $TSI Shares Acquired by JP Wealth Management Inc.

Key Points

• JP Wealth Management Inc. increased its stake in TCW Strategic Income Fund by 5.6% in Q2, owning over 3.2 million shares, making it their 5th largest position.
• TCW Strategic Income Fund will pay a quarterly dividend of $0.065 on October 10th, with a yield of 5.3% based on the annualized amount.
• The stock reached a 12-month low of $4.61 and a high of $5.16 within this period, and it opened at $4.95 on Monday.

JP Wealth Management Inc. increased its holdings in shares of TCW Strategic Income Fund, Inc. (NYSE:TSI - Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,213,023 shares of the financial services provider's stock after purchasing an additional 170,288 shares during the period. TCW Strategic Income Fund makes up approximately 11.7% of JP Wealth Management Inc.'s holdings, making the stock its 5th largest position. JP Wealth Management Inc. owned 6.72% of TCW Strategic Income Fund worth $15,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC increased its stake in TCW Strategic Income Fund by 17.6% during the second quarter. SeaBridge Investment Advisors LLC now owns 805,169 shares of the financial services provider's stock valued at $3,929,000 after acquiring an additional 120,465 shares during the period. Riverbridge Partners LLC increased its stake in TCW Strategic Income Fund by 4.0% during the second quarter. Riverbridge Partners LLC now owns 170,101 shares of the financial services provider's stock valued at $830,000 after acquiring an additional 6,527 shares during the period. Focus Partners Wealth bought a new position in TCW Strategic Income Fund during the first quarter valued at about $50,000. 1607 Capital Partners LLC increased its stake in TCW Strategic Income Fund by 21.2% during the first quarter. 1607 Capital Partners LLC now owns 2,670,304 shares of the financial services provider's stock valued at $12,978,000 after acquiring an additional 467,821 shares during the period. Finally, Ieq Capital LLC bought a new position in TCW Strategic Income Fund during the first quarter valued at about $370,000. 35.22% of the stock is currently owned by institutional investors.

TCW Strategic Income Fund Stock Performance

Shares of TSI opened at $4.95 on Monday. TCW Strategic Income Fund, Inc. has a 12-month low of $4.61 and a 12-month high of $5.16. The stock's 50-day moving average price is $4.96 and its 200 day moving average price is $4.91.

TCW Strategic Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, September 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.