Short Interest in PIMCO Strategic Income Fund, Inc. (NYSE:RCS) Decreases By 32.5%

Key Points

• Short interest in PIMCO Strategic Income Fund (NYSE:RCS) fell 32.5% in April to 288,094 shares, equal to 0.6% of shares outstanding and a days-to-cover ratio of 1.9.
• Institutional activity: Comerica Bank increased its RCS stake by 959% to 5,295 shares, Benjamin Edwards now holds 425,434 shares after a 5% boost, and about 13.48% of the fund is owned by hedge funds and other institutions.
• The fund declared a monthly dividend of $0.04 per share (ex-dividend April 13, paid May 1), implying an approximate 8.9% annualized yield.

PIMCO Strategic Income Fund, Inc. (NYSE:RCS - Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 288,094 shares, a decline of 32.5% from the March 31st total of 426,592 shares. Based on an average trading volume of 151,215 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.6% of the company's shares are sold short.

Institutional Trading of PIMCO Strategic Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of RCS. Comerica Bank boosted its position 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 purchasing an additional 4,795 shares in the last quarter. Cetera Investment Advisers increased its position in 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 valued at $508,000 after buying an additional 1,674 shares in the last quarter. First Trust Advisors LP purchased a new position in PIMCO Strategic Income Fund during the second quarter valued at $85,000. StoneX Group Inc. purchased a new position in PIMCO Strategic Income Fund during the second quarter valued at $72,000. Finally, Benjamin Edwards Inc. boosted its holdings in PIMCO Strategic Income Fund by 5.0% in the second quarter. Benjamin Edwards Inc. now owns 425,434 shares of the investment management company's stock worth $2,961,000 after acquiring an additional 20,093 shares in the last quarter. 13.48% of the stock is owned by hedge funds and other institutional investors.

PIMCO Strategic Income Fund Stock Up 0.5%

PIMCO Strategic Income Fund stock traded up $0.03 during mid-day trading on Tuesday, reaching $5.41. 158,349 shares of the company traded hands, compared to its average volume of 139,543. PIMCO Strategic Income Fund has a 52-week low of $5.09 and a 52-week high of $8.00. The firm's 50 day moving average price is $5.50 and its 200 day moving average price is $6.15.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be given a dividend of $0.04 per share. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Monday, April 13th.

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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