PIMCO Multisector Bond Active ETF Enters Oversold Territory

On Wednesday, shares of the PIMCO Multisector Bond Active ETF (Symbol: PYLD) fell into oversold territory, trading as low as $25.57 per share. The Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100, indicates oversold conditions when readings drop below 30.

Currently, PYLD shows an RSI reading of 26.1. In comparison, the S&P 500’s RSI stands at 22.7. For a bullish investor, the 26.1 RSI could signal that the recent wave of selling is nearing its end, presenting potential buying opportunities.

Examining PYLD’s performance over the past year, the ETF has recorded a low of $25.11 and a high of $26.70 within its 52-week range. Its most recent trade was at $25.60, representing a decline of about 0.8% for the day.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.