TCW Strategic Income Fund, Inc. (NYSE:TSI) Sees Large Increase in Short Interest

TCW Strategic Income Fund, Inc. (NYSE:TSI) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 31,200 shares, an increase of 19.5% from the February 13th total of 26,100 shares. Based on an average daily volume of 73,300 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On TCW Strategic Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of TSI. Wealth Enhancement Advisory Services LLC purchased a new position in TCW Strategic Income Fund during the fourth quarter valued at $49,000. Lindbrook Capital LLC bought a new stake in shares of TCW Strategic Income Fund in the fourth quarter worth about $50,000. Bank of America Corp DE increased its holdings in shares of TCW Strategic Income Fund by 11.7% in the fourth quarter. Bank of America Corp DE now owns 39,930 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 4,167 shares during the last quarter. Intellus Advisors LLC purchased a new position in TCW Strategic Income Fund in the fourth quarter worth about $221,000. Finally, PNC Financial Services Group Inc. grew its position in TCW Strategic Income Fund by 102.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 51,357 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 26,012 shares in the last quarter. 35.22% of the stock is currently owned by hedge funds and other institutional investors.

TCW Strategic Income Fund Stock Performance

TSI traded up $0.04 during trading on Tuesday, hitting $4.91. 27,449 shares of the company’s stock traded hands, compared to its average volume of 96,920. The company’s 50 day simple moving average is $4.85 and its two-hundred day simple moving average is $4.97. TCW Strategic Income Fund has a 12-month low of $4.52 and a 12-month high of $5.21.

TCW Strategic Income Fund Increases Dividend

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

TCW Strategic Income Fund Company Profile

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.