PIMCO Strategic Income Fund (NYSE:RCS) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Shares briefly crossed above the 50‑day moving average, trading as high as $5.62 intraday (50‑day = $5.55) though the last trade was $5.54 and the stock remains below its 200‑day moving average of $6.25.
• The fund announced a monthly dividend of $0.04 per share (ex‑dividend and record date Apr 13, payable May 1), which corresponds to an annualized yield of about 8.7%.
• Several institutional investors have recently increased positions (notably UBS, Cetera and Equitable), with hedge funds and other institutions owning roughly 13.48% of the fund.

PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.55 and traded as high as $5.62. PIMCO Strategic Income Fund shares last traded at $5.54, with a volume of 130,368 shares.

PIMCO Strategic Income Fund Trading Down 0.7%

The stock's 50-day moving average is $5.55 and its two-hundred day moving average is $6.25.

PIMCO Strategic Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Monday, April 13th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its position in shares of PIMCO Strategic Income Fund by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 72,983 shares of the investment management company's stock worth $508,000 after purchasing an additional 1,674 shares during the period. Equitable Holdings Inc. boosted its position in shares of PIMCO Strategic Income Fund by 10.2% during the 4th quarter. Equitable Holdings Inc. now owns 41,843 shares of the investment management company's stock worth $233,000 after purchasing an additional 3,888 shares during the period. UBS Group AG boosted its position in shares of PIMCO Strategic Income Fund by 1.1% during the 3rd quarter. UBS Group AG now owns 391,220 shares of the investment management company's stock worth $2,969,000 after purchasing an additional 4,313 shares during the period. Comerica Bank boosted its position in shares of PIMCO Strategic Income Fund by 959.0% during the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company's stock worth $33,000 after purchasing an additional 4,795 shares during the period. Finally, Susquehanna International Group LLP boosted its position in shares of PIMCO Strategic Income Fund by 21.0% during the 3rd quarter. Susquehanna International Group LLP now owns 29,893 shares of the investment management company's stock worth $227,000 after purchasing an additional 5,192 shares during the period. Hedge funds and other institutional investors own 13.48% of the company's stock.

PIMCO Strategic Income Fund Company Profile

PIMCO Strategic Income Fund NYSE: RCS is a closed-end management investment company that seeks to deliver current income and capital appreciation by investing in a diversified portfolio of fixed income instruments. The fund is managed by Pacific Investment Management Company LLC (PIMCO), one of the world's leading fixed income investment managers, and leverages PIMCO's global research and risk-management platform to allocate across various credit sectors and interest rate environments.

The fund's investment strategy is multi-sector and flexible, allowing the portfolio management team to adjust exposures among government securities, corporate bonds, asset-backed and mortgage-backed securities, high-yield debt, and emerging market instruments.

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