Could Pimco Income Strategy Fund II (PFN) Recover After Forming a Wedge Up Chart Pattern?

July 17, 2017 - By Kurt Siggers

Investors sentiment decreased to 1.03 in Q4 2016. Its down 0.12, from 1.15 in 2016Q3. It dived, as 9 investors sold Pimco Income Strategy Fund II shares while 20 reduced holdings. 6 funds opened positions while 24 raised stakes. 11.17 million shares or 2.00% more from 10.95 million shares in 2016Q3 were reported.
Suntrust Banks invested in 0% or 56,852 shares. 42,616 are held by Envestnet Asset Mngmt. Raymond James & Assoc has 0% invested in Pimco Income Strategy Fund II (NYSE:PFN). Wells Fargo & Com Mn reported 86,525 shares. Citigroup holds 0% of its portfolio in Pimco Income Strategy Fund II (NYSE:PFN) for 16,400 shares. Conning accumulated 80,666 shares. Ontario – Canada-based Royal Financial Bank Of Canada has invested 0% in Pimco Income Strategy Fund II (NYSE:PFN). Florida-based Ifc Fl has invested 0.01% in Pimco Income Strategy Fund II (NYSE:PFN). 11,721 were reported by Stifel Finance Corporation. Pinnacle Associates Limited, New York-based fund reported 212,540 shares. Creative Planning holds 0% in Pimco Income Strategy Fund II (NYSE:PFN) or 37,753 shares. Bank & Trust Of Montreal Can accumulated 10,000 shares. Greenwich Wealth Mngmt Ltd Com invested in 17,750 shares. Us Savings Bank De reported 16,800 shares or 0% of all its holdings. Barclays Public Lc reported 0% stake.

The stock of Pimco Income Strategy Fund II (PFN) formed an up wedge with $11.42 target or 8.00 % above today’s $10.57 share price. The 7 months wedge indicates low risk for the $624.72 million company. If the $11.42 price target is reached, the company will be worth $49.98M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

It is 0.00% or $0 reaching $10.57 per share. It is down 17.88% since July 17, 2016 and is uptrending. It has outperformed by 1.18% the S&P500.

More notable recent Pimco Income Strategy Fund II (NYSE:PFN) news were published by: Seekingalpha.com which released: “Distribution Coverage Sharply Down For Several PIMCO CEFs” on February 16, 2017, also Nasdaq.com with their article: “PIMCO Income Strategy Fund II (PFN) Ex-Dividend Date Scheduled for October 11 …” published on October 10, 2016, Seekingalpha.com published: “Retirement Income: 10 Taxable, Fixed-Income, Closed-End Funds From PIMCO” on August 22, 2016. More interesting news about Pimco Income Strategy Fund II (NYSE:PFN) were released by: Seekingalpha.com and their article: “What Could Replace PIMCO High Income Fund?” published on March 12, 2015 as well as Nasdaq.com‘s news article titled: “PIMCO Income Strategy Fund II (PFN) Ex-Dividend Date Scheduled for January 08 …” with publication date: January 07, 2015.

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