Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Reaches New 1-Year Low - Should You Sell?

Key Points

• PTY hit a new 52-week low, trading as low as $11.68 (last $11.69) on volume of 163,668 shares; the share price sits below its 50-day ($12.72) and 200-day ($13.30) moving averages, indicating continued weakness.
• Monthly dividend declared: $0.1188 per share, payable April 1 with record/ex-dividend date March 12, which corresponds to an annualized yield of about 12.2%.
• Institutional ownership is modest at 10.25%, and recent reported buys were small dollar positions by several advisers, suggesting limited institutional conviction.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $11.68 and last traded at $11.69, with a volume of 163668 shares trading hands. The stock had previously closed at $11.77.

Pimco Corporate & Income Opportunity Fund Price Performance

The business's 50-day simple moving average is $12.72 and its 200-day simple moving average is $13.30.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be paid a $0.1188 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%.

Institutional Trading of Pimco Corporate & Income Opportunity Fund

A number of institutional investors have recently bought and sold shares of the company. Aspect Partners LLC acquired a new position in Pimco Corporate & Income Opportunity Fund in the 3rd quarter worth about $25,000. Eastern Bank acquired a new stake in shares of Pimco Corporate & Income Opportunity Fund during the 3rd quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Pimco Corporate & Income Opportunity Fund during the 4th quarter valued at about $27,000. CX Institutional bought a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 3rd quarter valued at approximately $32,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Pimco Corporate & Income Opportunity Fund in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 10.25% of the company's stock.

About Pimco Corporate & Income Opportunity Fund

The Pimco Corporate & Income Opportunity Fund NYSE: PTY is a closed-end management investment company sponsored by Pacific Investment Management Company LLC (PIMCO). The fund's primary objective is to provide a high level of current income, with a secondary focus on capital appreciation. It seeks to achieve these goals through investment in a diversified portfolio of corporate debt securities, loan participations and other fixed-income instruments.

PTY primarily invests in a broad range of U.S.

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