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

Key Points

• PIMCO Strategic Income Fund (NYSE:RCS) shares recently surpassed their 50-day moving average of $7.10, trading as high as $7.25 with a volume of 98,147 shares.
• The fund declared a monthly dividend of $0.04, expected to yield 6.6%, with a payment date set for October 1st.
• Several institutional investors significantly increased their holdings in the fund, with notable increases including a 142.3% boost by Cambridge Investment Research Advisors.

PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.10 and traded as high as $7.25. PIMCO Strategic Income Fund shares last traded at $7.25, with a volume of 98,147 shares traded.

PIMCO Strategic Income Fund Price Performance

The stock has a fifty day moving average price of $7.13 and a 200-day moving average price of $6.55.

PIMCO Strategic Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Hedge Funds Weigh In On PIMCO Strategic Income Fund

Hedge funds have recently modified their holdings of the stock. Comerica Bank raised its holdings in shares of PIMCO Strategic Income Fund by 959.0% in the 1st quarter. Comerica Bank now owns 5,295 shares of the investment management company's stock worth $33,000 after buying an additional 4,795 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of PIMCO Strategic Income Fund in the 1st quarter worth approximately $63,000. StoneX Group Inc. acquired a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter worth approximately $72,000. Stifel Financial Corp acquired a new position in shares of PIMCO Strategic Income Fund in the 4th quarter worth approximately $80,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of PIMCO Strategic Income Fund in the 2nd quarter worth approximately $80,000. 13.48% of the stock is owned by institutional investors and hedge funds.

PIMCO Strategic Income Fund Company Profile

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.