TCW Strategic Income Fund, Inc. $TSI Stock Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its TSI stake by 955.6% in the third quarter, adding 253,474 shares to hold 280,000 shares worth about $1.2 million.
• Other institutional investors also reported significant purchases, and hedge funds and other institutions collectively held 35.22% of TCW Strategic Income Fund’s stock.
• The fund’s monthly dividend equates to $0.34 annually per share, a reported yield of 7.8%; meanwhile, Director Robert Rooney sold 29,333 shares.

International Assets Investment Management LLC lifted its stake in TCW Strategic Income Fund, Inc. (NYSE:TSI - Free Report) by 955.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,000 shares of the financial services provider's stock after buying an additional 253,474 shares during the quarter. International Assets Investment Management LLC owned approximately 0.59% of TCW Strategic Income Fund worth $1,204,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Hara Capital LLC purchased a new position in TCW Strategic Income Fund during the second quarter valued at approximately $3,406,000. Rareview Capital LLC boosted its position in TCW Strategic Income Fund by 1,911.9% in the 2nd quarter. Rareview Capital LLC now owns 307,541 shares of the financial services provider's stock worth $1,501,000 after purchasing an additional 292,255 shares in the last quarter. JP Wealth Management Inc. boosted its position in TCW Strategic Income Fund by 3.5% in the 3rd quarter. JP Wealth Management Inc. now owns 4,652,246 shares of the financial services provider's stock worth $20,005,000 after purchasing an additional 158,759 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of TCW Strategic Income Fund during the 1st quarter worth approximately $664,000. Finally, Noble Wealth Management PBC grew its stake in shares of TCW Strategic Income Fund by 16.9% during the 2nd quarter. Noble Wealth Management PBC now owns 276,747 shares of the financial services provider's stock worth $1,248,000 after purchasing an additional 40,015 shares during the period. Hedge funds and other institutional investors own 35.22% of the company's stock.

TCW Strategic Income Fund Stock Up 0.5%

NYSE:TSI opened at $4.36 on Thursday. The company has a 50 day moving average price of $4.28 and a 200-day moving average price of $4.49. TCW Strategic Income Fund, Inc. has a 1-year low of $4.11 and a 1-year high of $4.98.

TCW Strategic Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were given a dividend of $0.0283 per share. This represents a $0.34 annualized dividend and a yield of 7.8%. The ex-dividend date was Friday, October 16th.

Insider Buying and Selling

In related news, Director Robert Rooney sold 29,333 shares of the firm's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $4.26, for a total transaction of $124,958.58. Following the sale, the director owned 23,474 shares in the company, valued at approximately $99,999.24. This trade represents a 55.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.05% of the company's stock.

TCW Strategic Income Fund Profile

TCW Strategic Income Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol TSI. The fund seeks to provide investors with a high level of current income and, as a secondary objective, long-term capital appreciation.

The fund invests primarily in a diversified portfolio of fixed-income securities and other income-producing assets. Its investments may include corporate bonds, high-yield securities, emerging-market debt, mortgage- and asset-backed securities, bank loans and other government or private-sector debt instruments.

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