PIMCO Strategic Income Fund (NYSE:RCS) Stock Crosses Above 50-Day Moving Average – Should You Sell?

PIMCO Strategic Income Fund, Inc. (NYSE:RCS)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.41 and traded as high as $7.63. PIMCO Strategic Income Fund shares last traded at $7.57, with a volume of 109,283 shares traded.

PIMCO Strategic Income Fund Stock Performance

The stock’s 50 day simple moving average is $7.41 and its 200-day simple moving average is $6.63.

PIMCO Strategic Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a $0.051 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.61 dividend on an annualized basis and a yield of 8.08%.

Institutional Trading of PIMCO Strategic Income Fund

Several large investors have recently added to or reduced their stakes in the company. Straight Path Wealth Management raised its stake in shares of PIMCO Strategic Income Fund by 17.1% in the second quarter. Straight Path Wealth Management now owns 27,436 shares of the investment management company’s stock worth $170,000 after purchasing an additional 4,014 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in PIMCO Strategic Income Fund during the 2nd quarter worth approximately $189,000. Atomi Financial Group Inc. lifted its stake in PIMCO Strategic Income Fund by 135.8% during the 1st quarter. Atomi Financial Group Inc. now owns 84,536 shares of the investment management company’s stock valued at $515,000 after acquiring an additional 48,682 shares during the period. Cetera Investment Advisers boosted its holdings in shares of PIMCO Strategic Income Fund by 35.4% in the 2nd quarter. Cetera Investment Advisers now owns 194,417 shares of the investment management company’s stock valued at $1,207,000 after acquiring an additional 50,837 shares during the last quarter. Finally, Milestone Asset Management LLC increased its stake in shares of PIMCO Strategic Income Fund by 170.8% in the second quarter. Milestone Asset Management LLC now owns 234,836 shares of the investment management company’s stock worth $1,458,000 after acquiring an additional 148,122 shares during the period. Hedge funds and other institutional investors own 13.48% of the company’s stock.

About PIMCO Strategic Income Fund

PIMCO Strategic Global Government Fund, Inc 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 fixed income markets across the globe. The fund primarily invests in government securities, including bonds issued or guaranteed by the United States or foreign governments, by their agencies, authorities or instrumentalities, or by supranational entities.