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PIMCO Corporate & Income Strategy Fund said on June 1, 2023 that its board of directors declared a regular monthly dividend of $0.11 per share ($1.35 annualized). Previously, the company paid $0.11 per share.

Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on July 3, 2023.

At the current share price of $12.89 / share, the stock's dividend yield is 10.47%.

Looking back five years and taking a sample every week, the average dividend yield has been 8.47%, the lowest has been 6.96%, and the highest has been 13.44%. The standard deviation of yields is 1.30 (n=196).

The current dividend yield is 1.54 standard deviations above the historical average.

The company's 3-Year dividend growth rate is -0.04%.

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What is the Fund Sentiment?

There are 78 funds or institutions reporting positions in PIMCO Corporate & Income Strategy Fund. This is a decrease of 2 owner(s) or 2.50% in the last quarter. Average portfolio weight of all funds dedicated to PCN is 0.13%, an increase of 41.25%. Total shares owned by institutions increased in the last three months by 6.64% to 5,477K shares.

What are Other Shareholders Doing?

Bridge Advisory holds 550K shares. In it's prior filing, the firm reported owning 521K shares, representing an increase of 5.15%. The firm increased its portfolio allocation in PCN by 103,078.06% over the last quarter.

Elevated Capital Advisors holds 496K shares. In it's prior filing, the firm reported owning 482K shares, representing an increase of 2.65%. The firm increased its portfolio allocation in PCN by 119.90% over the last quarter.

PCEF - Invesco CEF Income Composite ETF holds 306K shares. In it's prior filing, the firm reported owning 300K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in PCN by 6.58% over the last quarter.

Invesco holds 286K shares. In it's prior filing, the firm reported owning 297K shares, representing a decrease of 3.80%. The firm decreased its portfolio allocation in PCN by 91.01% over the last quarter.

Janney Montgomery Scott holds 281K shares. In it's prior filing, the firm reported owning 281K shares, representing an increase of 0.01%. The firm increased its portfolio allocation in PCN by 10.94% over the last quarter.

PIMCO Corporate & Income Strategy Fund Background Information
(This description is provided by the company.)

Pimco Corporate & Income Strategy Fund seeks high current income, with a secondary objective of capital preservation and appreciation. Using a dynamic asset allocation strategy that focuses on duration management, credit quality analysis, risk management techniques, and broad diversification among issuers, industries and sectors, the multi-sector fund seeks high current income, with a secondary objective of capital preservation and appreciation. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets plus borrowings for investment purposes in a combination of corporate debt obligations of varying maturities, other corporate income-producing securities, and income-producing securities of non-corporate issuers, such as U.S. Government securities, municipal securities and mortgage-backed and other asset-backed securities issued on a public or private basis. The fund may invest a maximum of 25% of its total assets in non-U.S.-dollar-denominated securities. The fund will normally maintain an average portfolio duration of between zero and eight years. The portfolio manager attempts to identify investments that provide high current income through fundamental research, driven by independent credit analysis and proprietary analytical tools, and also uses a variety of techniques designed to manage risk and minimize exposure to issues that are more likely to default or otherwise depreciate in value over time.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.