PIMCO Strategic Income Fund (NYSE:RCS) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

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)'s stock price 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 changing hands.

PIMCO Strategic Income Fund Price Performance

The firm has a fifty day moving average of $7.11 and a 200 day moving average of $6.53.

PIMCO Strategic Income Fund Dividend Announcement

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

Institutional Investors Weigh In On PIMCO Strategic Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in RCS. Comerica Bank increased its stake in 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 acquired a new stake in PIMCO Strategic Income Fund during the first quarter worth $63,000. StoneX Group Inc. acquired a new stake in PIMCO Strategic Income Fund during the second quarter worth $72,000. Focus Partners Advisor Solutions LLC acquired a new stake in PIMCO Strategic Income Fund during the second quarter worth $80,000. Finally, Stifel Financial Corp acquired a new stake in PIMCO Strategic Income Fund during the fourth quarter worth $80,000. Institutional investors and hedge funds own 13.48% of the company's stock.

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.