PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Sees Significant Drop in Short Interest

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 150,300 shares, a decline of 18.1% from the October 15th total of 183,600 shares. Based on an average trading volume of 189,300 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of PIMCO Corporate & Income Strategy Fund by 1,356.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,673 shares of the investment management company’s stock worth $17,108,000 after acquiring an additional 1,122,875 shares in the last quarter. Insigneo Advisory Services LLC purchased a new position in PIMCO Corporate & Income Strategy Fund in the 2nd quarter worth about $3,265,000. Cetera Investment Advisers raised its holdings in PIMCO Corporate & Income Strategy Fund by 414.8% during the 1st quarter. Cetera Investment Advisers now owns 273,987 shares of the investment management company’s stock worth $3,828,000 after buying an additional 220,767 shares during the period. GHE LLC lifted its stake in PIMCO Corporate & Income Strategy Fund by 48.4% during the third quarter. GHE LLC now owns 456,055 shares of the investment management company’s stock valued at $6,471,000 after buying an additional 148,651 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the second quarter worth about $1,713,000.

PIMCO Corporate & Income Strategy Fund Stock Performance

Shares of NYSE:PCN traded up $0.01 during trading hours on Friday, hitting $13.90. 170,678 shares of the company’s stock traded hands, compared to its average volume of 219,998. The company’s fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $13.46. PIMCO Corporate & Income Strategy Fund has a 52 week low of $11.91 and a 52 week high of $14.36.

PIMCO Corporate & Income Strategy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a yield of 9.71%. The ex-dividend date is Tuesday, November 12th.

About PIMCO Corporate & Income Strategy Fund

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.