Short Interest in PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Declines By 17.4%

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 229,000 shares, a drop of 17.4% from the November 15th total of 277,400 shares. Based on an average daily trading volume, of 192,200 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of PIMCO Corporate & Income Strategy Fund

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in shares of PIMCO Corporate & Income Strategy Fund by 1,356.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,673 shares of the investment management company’s stock valued at $17,108,000 after purchasing an additional 1,122,875 shares during the last quarter. Principal Securities Inc. boosted its stake in PIMCO Corporate & Income Strategy Fund by 9.6% during the third quarter. Principal Securities Inc. now owns 900,769 shares of the investment management company’s stock worth $12,782,000 after buying an additional 79,059 shares during the period. GHE LLC increased its position 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 acquiring an additional 148,651 shares during the last quarter. Elevated Capital Advisors LLC raised its stake in shares of PIMCO Corporate & Income Strategy Fund by 1.7% in the second quarter. Elevated Capital Advisors LLC now owns 396,818 shares of the investment management company’s stock valued at $5,242,000 after acquiring an additional 6,756 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in PIMCO Corporate & Income Strategy Fund by 32.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 393,996 shares of the investment management company’s stock valued at $5,205,000 after acquiring an additional 95,482 shares during the period.

PIMCO Corporate & Income Strategy Fund Stock Up 0.1 %

Shares of PCN stock traded up $0.02 during trading hours on Friday, reaching $13.88. 234,749 shares of the company traded hands, compared to its average volume of 216,979. The firm has a 50-day moving average price of $13.94 and a 200 day moving average price of $13.64. PIMCO Corporate & Income Strategy Fund has a 12-month low of $12.07 and a 12-month high of $14.36.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.73%.

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.