Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Shares Shorted: Short Interest Down 81.5% in October

Key Points

• Short interest fell 81.5% in October to 106,429 shares, about 0.0% of PTY’s shares; the days-to-cover ratio was 0.1.
• PTY shares traded down 1.7% to $10.73, near their 52-week low of $10.56.
• The fund announced a monthly dividend of $0.1188 per share, equivalent to a 13.3% annualized yield. Institutional investors and hedge funds own 10.25% of its shares.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 106,429 shares, a decline of 81.5% from the October 15th total of 575,699 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,282,688 shares, the days-to-cover ratio is currently 0.1 days.

Pimco Corporate & Income Opportunity Fund Stock Down 1.7%

PTY stock traded down $0.18 during mid-day trading on Thursday, reaching $10.73. The company's stock had a trading volume of 1,452,318 shares, compared to its average volume of 1,304,387. Pimco Corporate & Income Opportunity Fund has a fifty-two week low of $10.56 and a fifty-two week high of $13.68. The company's 50 day moving average is $11.02 and its two-hundred day moving average is $11.85.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.1188 per share. This represents a $1.43 annualized dividend and a yield of 13.3%. The ex-dividend date is Friday, November 13th.

Institutional Trading of Pimco Corporate & Income Opportunity Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at about $32,763,000. XML Financial LLC lifted its stake in Pimco Corporate & Income Opportunity Fund by 10.3% in the second quarter. XML Financial LLC now owns 1,754,583 shares of the investment management company's stock worth $21,108,000 after acquiring an additional 163,536 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Pimco Corporate & Income Opportunity Fund by 3.0% during the first quarter. Cetera Investment Advisers now owns 1,153,947 shares of the investment management company's stock worth $13,917,000 after purchasing an additional 33,527 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Pimco Corporate & Income Opportunity Fund by 7.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 670,821 shares of the investment management company's stock worth $7,386,000 after acquiring an additional 46,131 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 2.8% in the 1st quarter. Royal Bank of Canada now owns 600,310 shares of the investment management company's stock valued at $7,240,000 after buying an additional 16,237 shares in the last quarter. Institutional investors and hedge funds own 10.25% of the company's stock.

About Pimco Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund is a publicly traded, actively managed closed-end investment fund. Its primary objective is to provide high current income, with capital appreciation as a secondary objective. The fund invests mainly in corporate debt securities and may hold both investment-grade and below-investment-grade bonds. Its portfolio can also include other income-producing fixed-income investments and securities from U.S. and international markets. Pacific Investment Management Company LLC (PIMCO), an investment manager specializing in fixed income, manages the fund.

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