PIMCO Strategic Income Fund (NYSE:RCS) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• RCS shares moved above their 50-day moving average, reaching $5.10 before closing at $5.0650; the 50-day average is $5.03, compared with a 200-day average of $5.38.
• PIMCO Strategic Income Fund declared a monthly dividend of $0.04 per share, equivalent to $0.48 annually and a 9.5% yield. The dividend is payable November 2 to shareholders of record as of October 13.
• Institutional investors own 13.48% of the fund, with several firms initiating positions or increasing their stakes recently. RCS is a PIMCO-managed closed-end fund focused on generating current income through globally diversified fixed-income investments.

PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $5.03 and traded as high as $5.10. PIMCO Strategic Income Fund shares last traded at $5.0650, with a volume of 198,035 shares traded.

PIMCO Strategic Income Fund Price Performance

The stock has a fifty day moving average price of $5.03 and a 200 day moving average price of $5.38.

PIMCO Strategic Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $0.48 dividend on an annualized basis and a yield of 9.5%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Americana Partners LLC bought a new position in shares of PIMCO Strategic Income Fund in the third quarter valued at approximately $51,000. Verdence Capital Advisors LLC bought a new stake in PIMCO Strategic Income Fund during the 3rd quarter worth approximately $72,000. Integrated Wealth Concepts LLC bought a new stake in PIMCO Strategic Income Fund during the 2nd quarter worth approximately $41,000. Readystate Asset Management LP bought a new stake in PIMCO Strategic Income Fund during the 2nd quarter worth approximately $185,000. Finally, Ameritas Advisory Services LLC lifted its stake in PIMCO Strategic Income Fund by 81.2% in the 2nd quarter. Ameritas Advisory Services LLC now owns 45,127 shares of the investment management company's stock worth $246,000 after purchasing an additional 20,218 shares in the last quarter. Institutional investors own 13.48% of the company's stock.

About PIMCO Strategic Income Fund

PIMCO Strategic Income Fund, Inc is a closed-end management investment company traded on the New York Stock Exchange under the symbol RCS. The fund is managed by PIMCO, an investment manager specializing in fixed-income and other income-oriented strategies.

The fund's primary objective is to provide a high level of current income, with capital appreciation as a secondary objective. It seeks to achieve these goals by investing in a diversified portfolio of income-producing securities, including government and corporate bonds, mortgage- and asset-backed securities, emerging-market debt and other fixed-income instruments.

PIMCO Strategic Income Fund has a flexible, global investment mandate and may allocate assets across markets and sectors based on PIMCO's assessment of economic conditions, interest rates, credit quality and relative value.

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