PIMCO Dynamic Income Fund (NYSE:PDI) Shares Pass Below 50 Day Moving Average – Here’s Why

PIMCO Dynamic Income Fund (NYSE:PDI)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $19.79 and traded as low as $19.57. PIMCO Dynamic Income Fund shares last traded at $19.68, with a volume of 2,171,074 shares traded.

PIMCO Dynamic Income Fund Stock Performance

The firm’s 50 day moving average price is $19.79 and its 200 day moving average price is $19.29.

PIMCO Dynamic Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.2205 per share. This represents a $2.65 dividend on an annualized basis and a yield of 13.45%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Investors Weigh In On PIMCO Dynamic Income Fund

A number of large investors have recently made changes to their positions in the business. Prospera Financial Services Inc bought a new position in shares of PIMCO Dynamic Income Fund during the third quarter valued at approximately $299,000. Drive Wealth Management LLC purchased a new position in PIMCO Dynamic Income Fund during the 3rd quarter valued at $1,730,000. Thrivent Financial for Lutherans raised its holdings in PIMCO Dynamic Income Fund by 3.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 160,820 shares of the company’s stock worth $3,260,000 after purchasing an additional 5,045 shares in the last quarter. Huntington National Bank lifted its position in shares of PIMCO Dynamic Income Fund by 93.4% in the 3rd quarter. Huntington National Bank now owns 5,280 shares of the company’s stock worth $107,000 after purchasing an additional 2,550 shares during the period. Finally, Kovack Advisors Inc. boosted its stake in shares of PIMCO Dynamic Income Fund by 4.4% during the 3rd quarter. Kovack Advisors Inc. now owns 18,220 shares of the company’s stock valued at $369,000 after purchasing an additional 764 shares in the last quarter.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund is a close ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in multiple fixed-income sectors, including non-agency residential and commercial mortgage-backed securities and below investment-grade securities.