Short Interest in PIMCO Strategic Income Fund, Inc. (NYSE:RCS) Rises By 28.1%

PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 640,300 shares, a growth of 28.1% from the April 30th total of 499,700 shares. Based on an average trading volume of 134,200 shares, the days-to-cover ratio is currently 4.8 days. Currently, 1.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RCS. Comerica Bank increased its position in shares of PIMCO Strategic Income Fund by 959.0% during the first quarter. Comerica Bank now owns 5,295 shares of the investment management company's stock worth $33,000 after acquiring an additional 4,795 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of PIMCO Strategic Income Fund during the first quarter worth about $63,000. Stifel Financial Corp bought a new stake in PIMCO Strategic Income Fund in the fourth quarter valued at about $80,000. HighTower Advisors LLC acquired a new stake in PIMCO Strategic Income Fund during the fourth quarter valued at approximately $82,000. Finally, Barnes Wealth Management Group Inc raised its stake in PIMCO Strategic Income Fund by 61.9% during the first quarter. Barnes Wealth Management Group Inc now owns 16,875 shares of the investment management company's stock valued at $105,000 after buying an additional 6,450 shares in the last quarter. 13.48% of the stock is owned by hedge funds and other institutional investors.

PIMCO Strategic Income Fund Stock Performance

Shares of RCS stock traded up $0.04 during trading hours on Friday, reaching $6.78. 80,895 shares of the company's stock were exchanged, compared to its average volume of 164,896. The company's 50 day moving average is $5.98 and its two-hundred day moving average is $6.51. PIMCO Strategic Income Fund has a 1 year low of $5.25 and a 1 year high of $8.09.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be issued a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Thursday, June 12th.

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.