Monitor daily trading volume and price relative to NAV for signs of accelerated ATM selling. The fund's shares already trade at a discount to NAV, and continued ATM issuance could pressure the discount wider. Watch for any subsequent 8-K disclosing actual sales under the program.
Price Chart
Executive Summary
PIMCO Dynamic Income Fund filed a 424B5 prospectus supplement to register up to $3,000,000,000 in common shares for an at-the-market offering through JonesTrading. As of August 31, 2026, the fund had net assets of $7.44B and 476.6M shares outstanding, with the stock trading at a 2.63% discount to NAV of $15.60. The filing is a routine shelf takedown with no earnings or operational data, representing potential dilution risk.
Key Facts
- Up to $3,000,000,000 in common shares registered for at-the-market offering through JonesTrading
- As of August 31, 2026, net assets attributable to common shares were $7,435,517,744 with 476,616,492 shares outstanding
- Last reported sale price on August 31, 2026 was $15.19 per share, NAV was $15.60 per share (2.63% discount)
- JonesTrading will receive up to 1.00% commission on gross proceeds
- Fund may not sell shares below current NAV per 1940 Act requirements
- Prior at-the-market offerings sold 246,558,623 shares for net proceeds of $4,857,390,953
- Proceeds will be invested per fund's investment objectives within approximately 30 days
Financial Impact
Up to $3,000,000,000 in potential equity issuance; net proceeds estimated at ~$2.97B after 1% commission and ~$1.59M expenses at assumed $15.19/share price
Risk Factors
- Potential dilution from up to $3B in new share issuance
- ATM sales at a discount to NAV could widen the existing discount
- No guarantee of sales; actual proceeds may be less than maximum
- Leverage costs (4.53% weighted average interest on reverse repos) may reduce net investment income
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-401390 |
| Document: d114243dexfilingfees.htm | 0001193125-26-401390 |
| Document: 0001193125-26-401390-index-headers.html | 0001193125-26-401390 |
| Document: 0001193125-26-401390-index.html | 0001193125-26-401390 |
| Document: 0001193125-26-401390.txt | 0001193125-26-401390 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 28, 2026 28d ago | Insider Cluster | $14.05 $14.40 | ▼ −2.49% | ▼ −0.54% | $14.13 (−0.57%) |
Sep 24, 2026 4w ago | 424B5 | $14.00 $14.40 | ▲ +2.86% | ▲ +3.08% | $14.13 (+0.93%) |
Jul 17, 2026 14w ago | Insider Buy | $16.30 $15.88 | ▼ −2.58% | ▼ −2.17% | $14.13 (−13.31%) |
US Market Status
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