PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Short Interest Update

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 73,700 shares, a drop of 40.9% from the February 13th total of 124,700 shares. Based on an average daily volume of 218,100 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

Several hedge funds have recently added to or reduced their stakes in the business. GHE LLC boosted its position in PIMCO Corporate & Income Strategy Fund by 22.8% during the 4th quarter. GHE LLC now owns 560,056 shares of the investment management company’s stock worth $7,516,000 after buying an additional 104,001 shares during the period. Elequin Capital LP acquired a new stake in PIMCO Corporate & Income Strategy Fund during the 4th quarter worth approximately $159,000. Focus Partners Wealth lifted its position in shares of PIMCO Corporate & Income Strategy Fund by 39.9% in the 4th quarter. Focus Partners Wealth now owns 20,197 shares of the investment management company’s stock worth $271,000 after purchasing an additional 5,763 shares during the period. Bank of America Corp DE lifted its position in shares of PIMCO Corporate & Income Strategy Fund by 3.3% in the 4th quarter. Bank of America Corp DE now owns 231,858 shares of the investment management company’s stock worth $3,112,000 after purchasing an additional 7,388 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of PIMCO Corporate & Income Strategy Fund in the 4th quarter worth approximately $428,000.

PIMCO Corporate & Income Strategy Fund Stock Performance

PCN opened at $13.45 on Monday. The company’s 50 day moving average is $13.59 and its 200-day moving average is $13.76. PIMCO Corporate & Income Strategy Fund has a 1-year low of $12.32 and a 1-year high of $14.36.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.35 annualized dividend and a yield of 10.04%.

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.