TCW Strategic Income Fund, Inc. (NYSE:TSI) Short Interest Down 34.9% in April

Key Points

• Short interest dropped by 34.9% to 96,743 shares as of April 15, leaving a days-to-cover ratio of 1.4 and equating to about 0.2% of the stock shorted.
• The fund raised its monthly dividend to $0.0283 (annualized yield ~7.5%) from $0.02, with an ex-dividend date of April 15 and payment on April 30.
• Insider buying: Director Peter McMillan purchased 50,000 shares at $4.64 (now owns 300,000), and insiders have bought 257,390 shares over the past three months, representing 0.23% ownership.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 96,743 shares, a decrease of 34.9% from the March 31st total of 148,668 shares. Based on an average trading volume of 68,918 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.2% of the shares of the stock are short sold.

TCW Strategic Income Fund Price Performance

NYSE TSI traded down $0.01 on Tuesday, reaching $4.56. The company's stock had a trading volume of 182,228 shares, compared to its average volume of 69,001. TCW Strategic Income Fund has a twelve month low of $4.43 and a twelve month high of $5.06. The firm's 50 day moving average is $4.60 and its two-hundred day moving average is $4.79.

TCW Strategic Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a $0.0283 dividend. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Wednesday, April 15th. This is a positive change from TCW Strategic Income Fund's previous monthly dividend of $0.02.

Insiders Place Their Bets

In other TCW Strategic Income Fund news, Director Peter Mcmillan purchased 50,000 shares of the business's stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $4.64 per share, with a total value of $232,000.00. Following the acquisition, the director owned 300,000 shares of the company's stock, valued at $1,392,000. The trade was a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 257,390 shares of company stock valued at $1,212,712. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TCW Strategic Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth purchased a new stake in TCW Strategic Income Fund during the first quarter valued at about $50,000. Concurrent Investment Advisors LLC purchased a new stake in TCW Strategic Income Fund during the fourth quarter valued at about $51,000. MB Generational Wealth LLC purchased a new stake in TCW Strategic Income Fund during the third quarter valued at about $63,000. Private Advisor Group LLC purchased a new stake in TCW Strategic Income Fund during the third quarter valued at about $68,000. Finally, &PARTNERS purchased a new stake in TCW Strategic Income Fund during the fourth quarter valued at about $71,000. 35.22% of the stock is owned by institutional investors and hedge funds.

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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