Short Interest in TCW Strategic Income Fund, Inc. (NYSE:TSI) Drops By 94.6%

Key Points

• Short interest in TCW Strategic Income Fund (TSI) plunged by 94.6% to 148,668 shares as of March 31, representing about 0.3% of shares sold short and a days-to-cover of only 0.5.
• The fund raised its monthly dividend to $0.0283 per share (ex-dividend April 15, payable April 30), implying an annualized yield of roughly 7.4%.
• Insiders have been buyers: Director Peter McMillan purchased 179,522 shares at about $4.73 each, and insiders bought 257,390 shares in the last quarter, now owning 0.23% of the stock.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 148,668 shares, a decline of 94.6% from the March 15th total of 2,745,777 shares. Approximately 0.3% of the company's shares are sold short. Based on an average daily volume of 274,811 shares, the days-to-cover ratio is currently 0.5 days.

TCW Strategic Income Fund Stock Performance

Shares of TSI stock traded down $0.03 during trading hours on Friday, hitting $4.56. The company had a trading volume of 29,507 shares, compared to its average volume of 198,627. TCW Strategic Income Fund has a fifty-two week low of $4.43 and a fifty-two week high of $5.06. The company's fifty day moving average is $4.65 and its 200 day moving average is $4.83.

TCW Strategic Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.0283 per share. This is a boost from TCW Strategic Income Fund's previous monthly dividend of $0.02. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Insiders Place Their Bets

In other news, Director Peter Mcmillan bought 179,522 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $849,139.06. Following the acquisition, the director directly owned 200,000 shares of the company's stock, valued at $946,000. This trade represents a 876.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 257,390 shares of company stock valued at $1,212,712. Insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On TCW Strategic Income Fund

A number of hedge funds have recently added to or reduced their stakes in TSI. Focus Partners Wealth acquired a new stake in TCW Strategic Income Fund during the 1st quarter worth approximately $50,000. Jane Street Group LLC acquired a new stake in TCW Strategic Income Fund during the 2nd quarter worth approximately $343,000. Bank of America Corp DE lifted its holdings in TCW Strategic Income Fund by 13.6% during the 2nd quarter. Bank of America Corp DE now owns 41,740 shares of the financial services provider's stock worth $204,000 after buying an additional 5,001 shares in the last quarter. Hara Capital LLC acquired a new stake in TCW Strategic Income Fund during the 2nd quarter worth approximately $167,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of TCW Strategic Income Fund in the 2nd quarter valued at approximately $82,000. 35.22% of the stock is currently owned by institutional investors and hedge funds.

About TCW Strategic Income Fund

TCW Strategic Income Fund NYSE: TSI is a diversified, closed-end management investment company that seeks to provide total return through high current income and capital appreciation. The fund primarily invests in a broad array of fixed-income securities, including corporate debt, high-yield bonds, mortgage- and asset-backed securities, and emerging market debt. By combining multiple credit sectors with a flexible duration approach, the fund aims to generate attractive yields while managing interest-rate and credit risks in varying market environments.

Under the management of TCW Asset Management Company LLC, a subsidiary of TCW Group founded in 1971, TSI leverages the firm's deep credit research capabilities and global trading platforms.

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