TCW Strategic Income Fund, Inc. (NYSE:TSI) Short Interest Up 129.0% in June

Key Points

• Short interest in TCW Strategic Income Fund surged 129% in June, rising to 58,196 shares from 25,412 shares as of June 15. Despite the jump, short interest still represents just 0.1% of shares outstanding.
• The stock traded down 0.3% to $4.43, matching its 52-week low. Trading volume was above average at 174,365 shares versus a typical 100,820 shares.
• TCW Strategic Income Fund announced a monthly dividend of $0.0283 per share, payable July 31 to shareholders of record on July 16. The dividend implies an annualized yield of 7.7%.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 58,196 shares, a growth of 129.0% from the June 15th total of 25,412 shares. Currently, 0.1% of the company's shares are short sold. Based on an average daily volume of 105,381 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of TCW Strategic Income Fund

Several large investors have recently added to or reduced their stakes in TSI. HighTower Advisors LLC raised its holdings in TCW Strategic Income Fund by 4.4% in the 4th quarter. HighTower Advisors LLC now owns 64,953 shares of the financial services provider's stock worth $321,000 after purchasing an additional 2,757 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of TCW Strategic Income Fund by 16.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,372 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 3,546 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of TCW Strategic Income Fund by 2.7% during the first quarter. Whipplewood Advisors LLC now owns 165,778 shares of the financial services provider's stock valued at $744,000 after buying an additional 4,344 shares during the period. Bank of America Corp DE increased its position in shares of TCW Strategic Income Fund by 13.6% during the second quarter. Bank of America Corp DE now owns 41,740 shares of the financial services provider's stock valued at $204,000 after buying an additional 5,001 shares during the period. Finally, Intellus Advisors LLC raised its stake in TCW Strategic Income Fund by 10.0% in the fourth quarter. Intellus Advisors LLC now owns 75,670 shares of the financial services provider's stock worth $374,000 after buying an additional 6,874 shares in the last quarter. Institutional investors own 35.22% of the company's stock.

TCW Strategic Income Fund Trading Down 0.3%

TSI traded down $0.01 during midday trading on Tuesday, reaching $4.43. 174,365 shares of the company's stock traded hands, compared to its average volume of 100,820. TCW Strategic Income Fund has a 52 week low of $4.43 and a 52 week high of $5.06. The firm has a fifty day moving average of $4.51 and a two-hundred day moving average of $4.64.

TCW Strategic Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be issued a dividend of $0.0283 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, July 16th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.