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PIMCO Corporate Income Fund (PCN) has 1 split in our PCN split history database. The split for PCN took place on July 24, 2000. This was a 1 for 3 reverse split, meaning for each 3 shares of PCN owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 333.333333333333 share position following the split.
When a company such as PIMCO Corporate Income Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the PCN split history from start to finish, an original position size of 1000 shares would have turned into 333.333333333333 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into PIMCO Corporate Income Fund shares, starting with a $10,000 purchase of PCN, presented on a split-history-adjusted basis factoring in the complete PCN split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||9.02%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||6.34%|
|About PIMCO Corporate Income Fund|
|PIMCO Corporate & Income Strategy Fund is a closed-end management investment company. Pacific Investment Management Company LLC serves as Co.'s investment manager and provides portfolio management services to Co. According to our PCN split history records, PIMCO Corporate Income Fund has had 1 split.|
|PCN Split History Table|
|07/24/2000||1 for 3|
|Financials Stock Splits|
|PCN is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:|