PIMCO Income Strategy Fund II (NYSE:PFN) Sees Significant Drop in Short Interest
by Amy Steele · The Cerbat GemPIMCO Income Strategy Fund II (NYSE:PFN – Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 154,771 shares, a decrease of 43.0% from the March 15th total of 271,432 shares. Based on an average daily volume of 808,965 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Investors Weigh In On PIMCO Income Strategy Fund II
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gridiron Partners LLC increased its position in shares of PIMCO Income Strategy Fund II by 4,006.2% during the third quarter. Gridiron Partners LLC now owns 446,306 shares of the financial services provider’s stock valued at $3,387,000 after buying an additional 435,437 shares during the period. Centaurus Financial Inc. increased its position in shares of PIMCO Income Strategy Fund II by 235.0% during the second quarter. Centaurus Financial Inc. now owns 356,600 shares of the financial services provider’s stock valued at $2,635,000 after buying an additional 250,137 shares during the period. Smith Chas P & Associates PA Cpas bought a new stake in shares of PIMCO Income Strategy Fund II during the fourth quarter valued at about $241,000. Integrity Advisory Solutions LLC increased its position in shares of PIMCO Income Strategy Fund II by 16.6% during the fourth quarter. Integrity Advisory Solutions LLC now owns 13,762 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,962 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of PIMCO Income Strategy Fund II by 0.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065,739 shares of the financial services provider’s stock valued at $7,993,000 after buying an additional 6,573 shares during the period.
PIMCO Income Strategy Fund II Price Performance
NYSE PFN traded down $0.08 during trading on Monday, hitting $6.99. 302,975 shares of the company’s stock traded hands, compared to its average volume of 518,641. PIMCO Income Strategy Fund II has a 12-month low of $6.53 and a 12-month high of $7.67. The business has a 50 day moving average of $7.11 and a 200-day moving average of $7.34.
PIMCO Income Strategy Fund II Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be issued a dividend of $0.0718 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) annualized dividend and a yield of 12.3%.
PIMCO Income Strategy Fund II Company Profile
PIMCO Income Strategy Fund II (NYSE: PFN) is a closed-end management investment company that seeks to provide high current income by investing principally in a diversified portfolio of credit instruments. The fund’s assets are allocated across a range of fixed income sectors, including corporate debt, asset- and mortgage-backed securities, emerging market debt, and other income-producing instruments, both in the U.S. and international markets.
The fund employs a flexible investment approach designed by PIMCO’s portfolio management team, incorporating the use of leverage and derivatives to enhance yield and manage duration risk.