Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 15.6% in February to 266,839 shares (about 0.1% of shares outstanding), leaving a very low short-interest ratio of roughly 0.2 days based on average daily volume.
• Monthly dividend announced of $0.1188 per share payable April 1 (record/ex-dividend date March 12), implying an annualized yield of about 11.7%.
• PTY traded at $12.16 mid-day, below its 50-day ($12.92) and 200-day ($13.42) moving averages, with a 52-week range of $11.70 to $14.69.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 266,839 shares, a drop of 15.6% from the February 12th total of 316,207 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 1,093,577 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 1,093,577 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Pimco Corporate & Income Opportunity Fund Stock Performance

NYSE:PTY traded up $0.13 during mid-day trading on Monday, hitting $12.16. 227,139 shares of the stock were exchanged, compared to its average volume of 1,236,950. The firm's 50-day simple moving average is $12.92 and its 200 day simple moving average is $13.42. Pimco Corporate & Income Opportunity Fund has a fifty-two week low of $11.70 and a fifty-two week high of $14.69.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.1188 per share. 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 11.7%.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the business. World Investment Advisors acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 4th quarter worth about $410,000. Corient Private Wealth LLC acquired a new position in shares of Pimco Corporate & Income Opportunity Fund during the 4th quarter worth approximately $133,000. Invesco Ltd. grew its position in shares of Pimco Corporate & Income Opportunity Fund by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,324,697 shares of the investment management company's stock worth $17,089,000 after purchasing an additional 83,965 shares in the last quarter. Smith Asset Management Co. LLC increased its holdings in shares of Pimco Corporate & Income Opportunity Fund by 1.3% during the fourth quarter. Smith Asset Management Co. LLC now owns 162,381 shares of the investment management company's stock worth $2,095,000 after purchasing an additional 2,055 shares during the period. Finally, Plotkin Financial Advisors LLC raised its position in shares of Pimco Corporate & Income Opportunity Fund by 1.7% in the fourth quarter. Plotkin Financial Advisors LLC now owns 127,102 shares of the investment management company's stock valued at $1,640,000 after buying an additional 2,084 shares in the last quarter. 10.25% of the stock is currently owned by institutional investors and hedge funds.

Pimco Corporate & Income Opportunity Fund Company Profile

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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