ProVise Management Group LLC Trims Stake in TCW Strategic Income Fund, Inc. (NYSE:TSI)

ProVise Management Group LLC lowered its stake in shares of TCW Strategic Income Fund, Inc. (NYSE:TSI) by 21.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,001 shares of the financial services provider’s stock after selling 2,700 shares during the period. ProVise Management Group LLC’s holdings in TCW Strategic Income Fund were worth $48,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC purchased a new position in shares of TCW Strategic Income Fund during the fourth quarter valued at about $50,000. PNC Financial Services Group Inc. increased its position in shares of TCW Strategic Income Fund by 102.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 51,357 shares of the financial services provider’s stock valued at $247,000 after buying an additional 26,012 shares during the period. Transform Wealth LLC purchased a new position in shares of TCW Strategic Income Fund during the fourth quarter valued at about $273,000. Noble Wealth Management PBC purchased a new position in shares of TCW Strategic Income Fund during the fourth quarter valued at about $825,000. Finally, Raymond James Financial Inc. purchased a new position in shares of TCW Strategic Income Fund during the fourth quarter valued at about $4,502,000. Hedge funds and other institutional investors own 35.22% of the company’s stock.

TCW Strategic Income Fund Trading Up 0.2 %

Shares of NYSE TSI opened at $4.91 on Thursday. TCW Strategic Income Fund, Inc. has a 1 year low of $4.52 and a 1 year high of $5.21. The company’s 50-day moving average is $4.86 and its 200 day moving average is $4.97.

TCW Strategic Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.30%. This is a positive change from TCW Strategic Income Fund’s previous quarterly dividend of $0.06.

About TCW Strategic Income Fund

TCW Strategic Income Fund, Inc is a close-ended balanced mutual fund launched by The TCW Group, Inc The fund is managed by TCW Investment Management Company. It invests in the public equity and fixed income markets of the United States. The fund makes its investments in securities of companies operating across diversified sectors.