TCW Strategic Income Fund (NYSE:TSI) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• TCW Strategic Income Fund's share price fell below its 200-day moving average of $4.92, trading as low as $4.91 during Monday's session.
• The fund recently declared a quarterly dividend of $0.065 per share, which translates to an annualized dividend of $0.26, yielding 5.3% for shareholders.
• Institutional investors have been actively trading the fund's shares, with significant stakes increased by firms such as 1607 Capital Partners LLC and Sit Investment Associates Inc. in recent months.

Shares of TCW Strategic Income Fund, Inc. (NYSE:TSI - ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.92 and traded as low as $4.91. TCW Strategic Income Fund shares last traded at $4.92, with a volume of 51,010 shares changing hands.

TCW Strategic Income Fund Price Performance

The business's fifty day moving average is $4.96 and its two-hundred day moving average is $4.92.

TCW Strategic Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 5.3%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. 1607 Capital Partners LLC raised its stake in shares of TCW Strategic Income Fund by 21.2% in the first quarter. 1607 Capital Partners LLC now owns 2,670,304 shares of the financial services provider's stock valued at $12,978,000 after acquiring an additional 467,821 shares during the period. Ieq Capital LLC purchased a new position in shares of TCW Strategic Income Fund during the 1st quarter worth about $370,000. Sit Investment Associates Inc. boosted its stake in shares of TCW Strategic Income Fund by 8.2% during the 1st quarter. Sit Investment Associates Inc. now owns 7,486,736 shares of the financial services provider's stock worth $36,386,000 after purchasing an additional 570,125 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in shares of TCW Strategic Income Fund by 17.6% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 805,169 shares of the financial services provider's stock worth $3,929,000 after purchasing an additional 120,465 shares during the period. Finally, JP Wealth Management Inc. boosted its stake in shares of TCW Strategic Income Fund by 5.6% during the 2nd quarter. JP Wealth Management Inc. now owns 3,213,023 shares of the financial services provider's stock worth $15,680,000 after purchasing an additional 170,288 shares during the period. 35.22% of the stock is owned by hedge funds and other institutional investors.

About TCW Strategic Income Fund

TCW Strategic Income Fund, Inc is a close-ended balanced mutual fund launched by The TCW Group, Inc The fund is managed by TCW Investment Management Company. It invests in the public equity and fixed income markets of the United States. The fund makes its investments in securities of companies operating across diversified sectors.

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