TCW Strategic Income Fund, Inc. (NYSE:TSI) Sees Large Increase in Short Interest

Key Points

• Short interest more than doubled to 75,432 shares as of August 31, up 116.9% from August 15. Short interest represents 0.2% of shares outstanding, with a short-interest ratio of 0.4 days.
• TSI shares fell 0.1% to $4.33, matching the fund’s one-year low and trading below its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0283 per share, payable September 30 to shareholders of record September 17, representing an annualized yield of approximately 7.8%. Institutional investors and hedge funds own 35.22% of the stock.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 75,432 shares, a growth of 116.9% from the August 15th total of 34,778 shares. Based on an average daily volume of 174,202 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the company's stock are sold short.

TCW Strategic Income Fund Trading Down 0.1%

TSI stock traded down $0.01 during trading on Monday, reaching $4.33. The stock had a trading volume of 82,359 shares, compared to its average volume of 160,684. TCW Strategic Income Fund has a one year low of $4.33 and a one year high of $5.06. The company's 50 day moving average is $4.41 and its two-hundred day moving average is $4.50.

TCW Strategic Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 17th will be paid a $0.0283 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Thursday, September 17th.

Institutional Trading of TCW Strategic Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of TSI. Focus Partners Wealth purchased a new position in TCW Strategic Income Fund in the first quarter worth $50,000. Jane Street Group LLC purchased a new stake in shares of TCW Strategic Income Fund during the 2nd quarter valued at $343,000. Bank of America Corp DE raised its stake in shares of TCW Strategic Income Fund by 13.6% during the 2nd quarter. Bank of America Corp DE now owns 41,740 shares of the financial services provider's stock worth $204,000 after purchasing an additional 5,001 shares during the period. Corient Private Wealth LLC bought a new stake in shares of TCW Strategic Income Fund during the 2nd quarter worth $82,000. Finally, Private Advisor Group LLC purchased a new position in shares of TCW Strategic Income Fund in the 3rd quarter worth about $68,000. 35.22% of the stock is owned by hedge funds and other institutional investors.

About TCW Strategic Income Fund

TCW Strategic Income Fund NYSE: TSI is a diversified, closed-end management investment company that seeks to provide total return through high current income and capital appreciation. The fund primarily invests in a broad array of fixed-income securities, including corporate debt, high-yield bonds, mortgage- and asset-backed securities, and emerging market debt. By combining multiple credit sectors with a flexible duration approach, the fund aims to generate attractive yields while managing interest-rate and credit risks in varying market environments.

Under the management of TCW Asset Management Company LLC, a subsidiary of TCW Group founded in 1971, TSI leverages the firm's deep credit research capabilities and global trading platforms.

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