LOS ANGELES—Andrew Tarica, a director at TCW Strategic Income Fund Inc. (NYSE:TSI), recently sold a total of $62,517 worth of the company's common stock, according to a filing with the Securities and Exchange Commission. The transactions took place over two days, on November 7 and November 11.
On November 7, Tarica sold 1,500 shares at a price of $5.10 per share, resulting in proceeds of $7,650. Following this, on November 11, he executed two separate sales. The first involved 4,537 shares at $5.08 per share, totaling $23,033.96. The second sale involved 6,262.434 shares at $5.081 per share, amounting to $31,833.04. These transactions were conducted indirectly through the Zachary Tarica Trust and the 2005 ESC Trust.
After these sales, Tarica no longer holds any shares of TCW Strategic Income Fund, as indicated in the filing. The transactions were part of routine trading activity and reflect Tarica's investment decisions regarding his holdings in the company.
InvestingPro Insights
While Andrew Tarica's recent sale of TCW Strategic Income Fund Inc. (NYSE:TSI) shares might raise eyebrows, a closer look at the company's financials and market performance reveals a more nuanced picture. According to InvestingPro data, TSI boasts a robust dividend yield of 7.07%, significantly higher than many of its peers. This aligns with one of the InvestingPro Tips, which notes that the company "pays a significant dividend to shareholders."
Moreover, TSI has demonstrated strong financial performance, with revenue growth of 22.45% over the last twelve months as of Q2 2024. The company's profitability is also noteworthy, with a gross profit margin of 100% during the same period. These figures suggest that despite the insider sale, TSI's fundamental business remains solid.
Another InvestingPro Tip highlights that TSI "has maintained dividend payments for 18 consecutive years," underscoring the company's commitment to shareholder returns. This long-term dividend consistency, coupled with the stock's relatively low price volatility (as mentioned in another InvestingPro Tip), may appeal to income-focused investors seeking stable returns.
It's worth noting that InvestingPro offers additional insights beyond these mentioned, with 6 more tips available for TSI. These could provide further context to the company's financial health and market position, potentially shedding light on the motivations behind Tarica's stock sale.
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