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

Key Points

• Technical move: RCS briefly traded as high as $5.50, crossing above its 50‑day moving average of $5.49, though it remains under its 200‑day MA of $6.11.
• Dividend: The fund declared a monthly dividend of $0.04 per share (ex‑dividend and record date May 11), payable June 1, implying an annualized yield of about 8.8%.
• Institutional activity: Several hedge funds and asset managers (including Silver Oak, Marex, Goldman Sachs, LPL and Milestone) added or increased positions, with roughly 13.48% of the shares held by institutional investors.

Shares of PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.49 and traded as high as $5.50. PIMCO Strategic Income Fund shares last traded at $5.4450, with a volume of 103,875 shares trading hands.

PIMCO Strategic Income Fund Stock Performance

The stock's 50 day simple moving average is $5.49 and its 200 day simple moving average is $6.11.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a dividend of $0.04 per share. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Monday, May 11th.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

A number of hedge funds have recently bought and sold shares of RCS. Silver Oak Securities Incorporated purchased a new position in PIMCO Strategic Income Fund during the 4th quarter worth $603,000. Marex Group plc purchased a new position in PIMCO Strategic Income Fund during the 4th quarter worth $571,000. Goldman Sachs Group Inc. purchased a new position in PIMCO Strategic Income Fund during the 4th quarter worth $526,000. LPL Financial LLC boosted its holdings in PIMCO Strategic Income Fund by 30.6% during the 4th quarter. LPL Financial LLC now owns 369,581 shares of the investment management company's stock worth $2,059,000 after acquiring an additional 86,529 shares during the last quarter. Finally, Milestone Asset Management LLC boosted its holdings in PIMCO Strategic Income Fund by 38.3% during the 4th quarter. Milestone Asset Management LLC now owns 172,517 shares of the investment management company's stock worth $961,000 after acquiring an additional 47,767 shares during the last quarter. 13.48% of the stock is owned by hedge funds and other institutional investors.

About PIMCO Strategic Income Fund

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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