Cornerstone Financial Partners buys $9,309,674 stake in Pimco Corporate & Income Strategy Fund (PCN)

Pimco Corporate & Income Strategy Fund (PCN) : Cornerstone Financial Partners scooped up 297,014 additional shares in Pimco Corporate & Income Strategy Fund during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 604,132 shares of Pimco Corporate & Income Strategy Fund which is valued at $9,309,674.Pimco Corporate & Income Strategy Fund makes up approximately 3.25% of Cornerstone Financial Partners’s portfolio.

Other Hedge Funds, Including , Gerber Kawasaki Wealth Investment Management boosted its stake in PCN in the latest quarter, The investment management firm added 75,845 additional shares and now holds a total of 183,380 shares of Pimco Corporate & Income Strategy Fund which is valued at $2,829,553. Pimco Corporate & Income Strategy Fund makes up approx 1.72% of Gerber Kawasaki Wealth Investment Management’s portfolio. Sigma Planning Corp sold out all of its stake in PCN during the most recent quarter. The investment firm sold 12,170 shares of PCN which is valued $186,931.Lattice Strategies reduced its stake in PCN by selling 40 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 10,280 shares of PCN which is valued at $156,873. Pimco Corporate & Income Strategy Fund makes up approx 0.12% of Lattice Strategies’s portfolio.Creative Planning reduced its stake in PCN by selling 31,130 shares or 89.6% in the most recent quarter. The Hedge Fund company now holds 3,614 shares of PCN which is valued at $54,174.

Pimco Corporate & Income Strategy Fund is a United-States-based closed-end fund. The Fund’s primary investment objective is to seek high current income with a secondary objective of capital preservation and appreciation. The Fund invests at least 80% of its total assets 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 the United States government securities municipal securities and mortgage-backed and other asset-backed securities issued on a public or private basis. It invests at least 25% of its total assets in corporate debt obligations and other corporate income-producing securities. It may invest a maximum of 25% of its total assets in non-United States-dollar-denominated securities. It maintains an average portfolio duration of between 0 and 8 years. Pacific Investment Management Company LLC serves as the Fund’s investment manager.

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