Short Interest in PIMCO Corporate & Income Strategy Fund (NYSE:PCN) Declines By 14.7%

PIMCO Corporate & Income Strategy Fund (NYSE:PCN) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 183,600 shares, a decline of 14.7% from the September 30th total of 215,300 shares. Based on an average trading volume of 207,000 shares, the days-to-cover ratio is currently 0.9 days.

PIMCO Corporate & Income Strategy Fund Stock Down 0.3 %

PIMCO Corporate & Income Strategy Fund stock traded down $0.04 during trading hours on Tuesday, hitting $13.75. The stock had a trading volume of 126,544 shares, compared to its average volume of 221,474. PIMCO Corporate & Income Strategy Fund has a 1-year low of $11.17 and a 1-year high of $14.36. The stock’s fifty day moving average is $13.83 and its two-hundred day moving average is $13.38.

PIMCO Corporate & Income Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be given a $0.1125 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.35 annualized dividend and a dividend yield of 9.82%.

Institutional Investors Weigh In On PIMCO Corporate & Income Strategy Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of PIMCO Corporate & Income Strategy Fund by 18.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 82,813 shares of the investment management company’s stock worth $1,175,000 after purchasing an additional 12,707 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in PIMCO Corporate & Income Strategy Fund by 715.2% in the third quarter. Farther Finance Advisors LLC now owns 6,212 shares of the investment management company’s stock valued at $88,000 after purchasing an additional 5,450 shares during the period. Principal Securities Inc. boosted its holdings in PIMCO Corporate & Income Strategy Fund by 9.6% in the third quarter. Principal Securities Inc. now owns 900,769 shares of the investment management company’s stock valued at $12,782,000 after acquiring an additional 79,059 shares during the last quarter. HM Payson & Co. acquired a new stake in PIMCO Corporate & Income Strategy Fund during the 3rd quarter worth approximately $52,000. Finally, Consolidated Portfolio Review Corp increased its position in shares of PIMCO Corporate & Income Strategy Fund by 2.0% in the third quarter. Consolidated Portfolio Review Corp now owns 132,232 shares of the investment management company’s stock worth $1,876,000 after acquiring an additional 2,545 shares in the last quarter.

PIMCO Corporate & Income Strategy Fund Company Profile

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.