TCW Strategic Income Fund (NYSE:TSI) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Shares fell below the 200-day moving average: TSI traded as low as $4.59 and last at $4.65, slipping under its 200-day MA of $4.90 on volume of 117,564 shares.
• Dividend increased: The fund raised its monthly payout to $0.0283 (from $0.02), implying about a 7.3% yield, with an ex-dividend date of April 15 and payment on April 30.
• Insider buying and institutional stakes: Director Peter McMillan bought 50,000 shares at $4.64 (raising his holdings to 300,000), insiders purchased 257,390 shares in the last 90 days, insiders own 0.23% of the stock and institutions hold 35.22%.

TCW Strategic Income Fund, Inc. (NYSE:TSI - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.90 and traded as low as $4.59. TCW Strategic Income Fund shares last traded at $4.65, with a volume of 117,564 shares traded.

TCW Strategic Income Fund Stock Up 1.3%

The firm has a 50 day moving average of $4.81 and a two-hundred day moving average of $4.90.

TCW Strategic Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be paid 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 of this dividend is Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 7.3%.

Insider Buying and Selling

In other TCW Strategic Income Fund news, Director Peter Mcmillan bought 50,000 shares of the company's stock in a transaction on Friday, February 20th. The stock was purchased at an average cost of $4.64 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, 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 Trading of TCW Strategic Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Sit Investment Associates Inc. increased its stake in shares of TCW Strategic Income Fund by 8.1% during the 4th quarter. Sit Investment Associates Inc. now owns 10,208,852 shares of the financial services provider's stock worth $50,432,000 after purchasing an additional 766,863 shares in the last quarter. JP Wealth Management Inc. increased its position in TCW Strategic Income Fund by 7.7% during the fourth quarter. JP Wealth Management Inc. now owns 3,237,474 shares of the financial services provider's stock worth $15,993,000 after buying an additional 231,451 shares in the last quarter. Focus Partners Wealth purchased a new position in TCW Strategic Income Fund during the fourth quarter worth $7,263,000. Diversified Management Inc. acquired a new position in shares of TCW Strategic Income Fund in the fourth quarter worth $5,002,000. Finally, Riverbridge Partners LLC lifted its position in shares of TCW Strategic Income Fund by 19.9% in the fourth quarter. Riverbridge Partners LLC now owns 208,992 shares of the financial services provider's stock valued at $1,032,000 after acquiring an additional 34,639 shares in the last quarter. Hedge funds and other institutional investors own 35.22% of the company's stock.

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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