Pimco Corporate & Income Strategy Fund (NYSE:PCN) Shares Pass Above 50 Day Moving Average of $19.54

Shares of Pimco Corporate & Income Strategy Fund (NYSE:PCN) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.54 and traded as high as $20.21. Pimco Corporate & Income Strategy Fund shares last traded at $20.13, with a volume of 75,173 shares traded.

The stock’s 50-day simple moving average is $19.62 and its 200 day simple moving average is $18.74.

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 13th will be given a dividend of $0.112 per share. The ex-dividend date is Wednesday, February 12th. This represents a $1.34 dividend on an annualized basis and a yield of 6.65%.

A number of hedge funds have recently added to or reduced their stakes in PCN. Elevated Capital Advisors LLC bought a new position in Pimco Corporate & Income Strategy Fund during the fourth quarter worth $1,654,000. Morgan Stanley boosted its position in Pimco Corporate & Income Strategy Fund by 30.7% during the second quarter. Morgan Stanley now owns 286,614 shares of the investment management company’s stock worth $4,904,000 after purchasing an additional 67,369 shares during the period. Foundations Investment Advisors LLC bought a new position in Pimco Corporate & Income Strategy Fund during the fourth quarter worth $610,000. Independent Advisor Alliance bought a new position in Pimco Corporate & Income Strategy Fund during the fourth quarter worth $358,000. Finally, Bank of America Corp DE boosted its position in Pimco Corporate & Income Strategy Fund by 9.5% during the second quarter. Bank of America Corp DE now owns 191,888 shares of the investment management company’s stock worth $3,283,000 after purchasing an additional 16,582 shares during the period.

About Pimco Corporate & Income Strategy Fund (NYSE:PCN)

PIMCO Corporate & Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund invests in securities of companies that operate across diversified sectors.

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