This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

PIMCO Dynamic Income Fund Announces Partial Exercise Of Over-Allotment Option

PIMCO Dynamic Income Fund (the “Fund”) today announced that the underwriters of its initial public offering of common shares, which was completed on May 30, 2012, have partially exercised their over-allotment option to purchase an additional 4,458,352 common shares of the Fund. The closing of the exercise of the overallotment option occurred today, July 11, 2012. The gross proceeds of $111,458,800 from the partial exercise of the over-allotment option brings the total amount raised in the Fund’s initial public offering to $1,126,458,800 (before deduction of the sales load and offering expenses). The Fund’s common shares are listed on the New York Stock Exchange under the symbol “PDI.”

The Fund is a non-diversified closed-end fund. The Fund seeks current income as a primary objective and capital appreciation as a secondary objective. The Fund seeks to achieve its investment objectives by utilizing a dynamic asset allocation strategy among multiple fixed-income sectors, including non-agency residential and commercial mortgage-backed securities (and any other mortgage-related or asset-backed securities), investment-grade corporate bonds and below investment-grade securities (commonly referred to as “high yield” securities or “junk bonds”) and certain other income-producing securities of U.S. and foreign issuers. As a matter of fundamental policy, the Fund will normally invest at least 25% of its total assets in privately-issued (commonly known as “non-agency”) mortgage-related securities. The Fund utilizes leverage as part of its investment strategy.

Pacific Investment Management Company LLC (“PIMCO”), the Fund’s sub-adviser, employs an active approach to allocation among multiple fixed-income sectors based on, among other things, market conditions, valuation assessments and economic outlook, credit market trends and other economic factors. PIMCO also relies heavily on its independent credit analysis of specific securities and issuers.

Allianz Global Investors Fund Management LLC (“AGIFM”) is the Fund’s investment manager, responsible for managing the investment activities of the Fund and the Fund’s business affairs and other administrative matters. AGIFM is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. and is a member of Munich-based Allianz Group. As the Fund’s sub-adviser, PIMCO, an AGIFM affiliate, is responsible for managing the Fund’s portfolio investments.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs