PIMCO Strategic Income Fund, Inc. (NYSE:RCS) Sees Large Decline in Short Interest

PIMCO Strategic Income Fund, Inc. (NYSE:RCS) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 669,800 shares, a decrease of 20.5% from the December 15th total of 842,100 shares. Based on an average trading volume of 196,800 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RCS. Straight Path Wealth Management increased its position in PIMCO Strategic Income Fund by 17.1% in the 2nd quarter. Straight Path Wealth Management now owns 27,436 shares of the investment management company’s stock valued at $170,000 after acquiring an additional 4,014 shares in the last quarter. FSA Wealth Management LLC bought a new position in PIMCO Strategic Income Fund in the 3rd quarter worth approximately $108,000. J.W. Cole Advisors Inc. acquired a new position in PIMCO Strategic Income Fund during the 2nd quarter worth $189,000. Cetera Investment Advisers boosted its position in 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 buying an additional 50,837 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new stake in shares of PIMCO Strategic Income Fund in the 3rd quarter valued at $681,000. Institutional investors and hedge funds own 13.48% of the company’s stock.

PIMCO Strategic Income Fund Trading Up 0.6 %

RCS stock traded up $0.04 on Wednesday, reaching $6.39. 32,267 shares of the company were exchanged, compared to its average volume of 489,935. PIMCO Strategic Income Fund has a 12 month low of $5.54 and a 12 month high of $8.09. The stock’s fifty day moving average price is $7.45 and its 200 day moving average price is $7.22.

PIMCO Strategic Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, January 13th. This represents a $0.48 annualized dividend and a dividend yield of 7.51%.

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.