Short Interest in TCW Strategic Income Fund, Inc. (NYSE:TSI) Increases By 48.3%

Key Points

• Short interest surged 48.3% — short interest in TCW Strategic Income Fund (NYSE:TSI) climbed to 2,376,239 shares as of Feb 27, about 5.0% of shares outstanding and a days-to-cover ratio of 6.9.
• Dividend increased — the fund raised its monthly dividend to $0.0283 (annualized yield ~7.4%) from $0.02, with an ex-dividend/record date on April 15 and payment on April 30.
• Insiders buying — Director Peter McMillan bought 50,000 shares at ~$4.64 on Feb 20, and insiders have purchased 257,390 shares in the last 90 days, though insiders own just 0.23% of the stock.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 2,376,239 shares, a growth of 48.3% from the February 12th total of 1,602,305 shares. Based on an average daily volume of 344,868 shares, the days-to-cover ratio is currently 6.9 days. Approximately 5.0% of the company's shares are sold short. Approximately 5.0% of the company's shares are sold short. Based on an average daily volume of 344,868 shares, the days-to-cover ratio is currently 6.9 days.

TCW Strategic Income Fund Stock Performance

Shares of NYSE TSI opened at $4.61 on Friday. The company has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.88. TCW Strategic Income Fund has a 1 year low of $4.57 and a 1 year high of $5.06.

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 paid a dividend of $0.0283 per share. This represents a c) annualized dividend and a yield of 7.4%. This is a positive change from TCW Strategic Income Fund's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, April 15th.

Insider Transactions at TCW Strategic Income Fund

In other news, Director Peter Mcmillan bought 50,000 shares of TCW Strategic Income Fund stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $4.64 per share, with a total value of $232,000.00. Following the completion of the purchase, the director directly owned 300,000 shares of the company's stock, valued at approximately $1,392,000. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 257,390 shares of company stock worth $1,212,712 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TCW Strategic Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth purchased a new position in shares of TCW Strategic Income Fund during the 1st quarter worth $50,000. Concurrent Investment Advisors LLC acquired a new stake in shares of TCW Strategic Income Fund during the 4th quarter worth about $51,000. MB Generational Wealth LLC purchased a new stake in TCW Strategic Income Fund in the 3rd quarter valued at about $63,000. Private Advisor Group LLC purchased a new stake in TCW Strategic Income Fund in the 3rd quarter valued at about $68,000. Finally, &PARTNERS acquired a new position in TCW Strategic Income Fund in the fourth quarter valued at about $71,000. Hedge funds and other institutional investors own 35.22% of the company's stock.

TCW Strategic Income Fund Company Profile

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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