Raymond James Financial Inc. Acquires New Position in PIMCO Income Strategy Fund II (NYSE:PFN)

Raymond James Financial Inc. bought a new position in PIMCO Income Strategy Fund II (NYSE:PFN) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 462,416 shares of the financial services provider’s stock, valued at approximately $3,445,000.

Several other institutional investors and hedge funds have also made changes to their positions in PFN. GPS Wealth Strategies Group LLC lifted its position in PIMCO Income Strategy Fund II by 114.2% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,069 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,169 shares in the last quarter. Ibex Wealth Advisors acquired a new stake in shares of PIMCO Income Strategy Fund II in the 4th quarter worth $82,000. Element Wealth LLC acquired a new stake in shares of PIMCO Income Strategy Fund II in the 4th quarter worth $159,000. Root Financial Partners LLC purchased a new position in shares of PIMCO Income Strategy Fund II during the 4th quarter worth $201,000. Finally, Elm3 Financial Group LLC acquired a new position in shares of PIMCO Income Strategy Fund II during the 4th quarter valued at about $288,000.

PIMCO Income Strategy Fund II Price Performance

Shares of PFN opened at $7.54 on Friday. The firm has a 50-day moving average price of $7.53 and a 200 day moving average price of $7.52. PIMCO Income Strategy Fund II has a 12-month low of $6.96 and a 12-month high of $7.77.

PIMCO Income Strategy Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0718 per share. This represents a $0.86 annualized dividend and a dividend yield of 11.43%. The ex-dividend date is Thursday, March 13th.

PIMCO Income Strategy Fund II Company Profile

PIMCO Income Strategy Fund II is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It invests in securities of companies operating across the diversified sectors.