PIMCO Dynamic Income Strategy Fund (NYSE:PDX) Trading Down 3.7% – Here’s Why

Shares of PIMCO Dynamic Income Strategy Fund (NYSE:PDX) dropped 3.7% during trading on Friday . The company traded as low as $26.91 and last traded at $27.12. Approximately 449,380 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 611,619 shares. The stock had previously closed at $28.15.

PIMCO Dynamic Income Strategy Fund Trading Down 3.7 %

The firm’s fifty day moving average price is $27.11 and its two-hundred day moving average price is $24.64.

PIMCO Dynamic Income Strategy Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be issued a dividend of $0.1334 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.90%. This is a boost from PIMCO Dynamic Income Strategy Fund’s previous monthly dividend of $0.11. The ex-dividend date of this dividend is Monday, January 13th.

Insider Transactions at PIMCO Dynamic Income Strategy Fund

In other PIMCO Dynamic Income Strategy Fund news, major shareholder Saba Capital Management, L.P. purchased 731,721 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of $27.60 per share, for a total transaction of $20,195,499.60. Following the purchase, the insider now directly owns 7,541,934 shares of the company’s stock, valued at $208,157,378.40. The trade was a 10.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 966,309 shares of company stock worth $26,176,242 in the last ninety days.

Hedge Funds Weigh In On PIMCO Dynamic Income Strategy Fund

A number of institutional investors have recently bought and sold shares of PDX. Catalina Capital Group LLC purchased a new position in PIMCO Dynamic Income Strategy Fund during the fourth quarter valued at approximately $203,000. Allworth Financial LP lifted its stake in shares of PIMCO Dynamic Income Strategy Fund by 10.5% during the 3rd quarter. Allworth Financial LP now owns 10,500 shares of the company’s stock valued at $248,000 after buying an additional 1,000 shares in the last quarter. Spire Wealth Management boosted its holdings in PIMCO Dynamic Income Strategy Fund by 27.3% in the 4th quarter. Spire Wealth Management now owns 10,117 shares of the company’s stock worth $264,000 after buying an additional 2,170 shares during the period. Regal Investment Advisors LLC purchased a new stake in PIMCO Dynamic Income Strategy Fund in the 2nd quarter worth $325,000. Finally, Cornerstone Wealth Management LLC raised its holdings in PIMCO Dynamic Income Strategy Fund by 7.5% during the third quarter. Cornerstone Wealth Management LLC now owns 14,840 shares of the company’s stock valued at $350,000 after acquiring an additional 1,041 shares during the period.