Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• The Pimco Corporate & Income Opportunity Fund (NYSE: PTY) experienced a significant increase in trading volume, with 1,752,224 shares changing hands, marking a 134% rise from the previous session.
• The fund announced a monthly dividend of $0.1188 to be paid on November 3rd, with a dividend yield of 10.8%.
• Institutional investors have been actively trading shares, with 10.25% of the stock owned by such investors and substantial increases in holdings reported by several firms.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - ) shares saw an uptick in trading volume on Monday . 1,752,224 shares traded hands during trading, an increase of 134% from the previous session's volume of 749,763 shares.The stock last traded at $13.39 and had previously closed at $13.89.

Pimco Corporate & Income Opportunity Fund Price Performance

The business's 50-day moving average price is $14.26 and its two-hundred day moving average price is $13.87.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be given a $0.1188 dividend. The ex-dividend date is Tuesday, October 14th. This represents a c) annualized dividend and a dividend yield of 10.8%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at $16,400,000. Cetera Investment Advisers grew its position in Pimco Corporate & Income Opportunity Fund by 58.1% in the first quarter. Cetera Investment Advisers now owns 1,439,621 shares of the investment management company's stock valued at $20,817,000 after acquiring an additional 529,206 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Pimco Corporate & Income Opportunity Fund by 425.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 333,526 shares of the investment management company's stock worth $4,639,000 after acquiring an additional 270,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,963,850 shares of the investment management company's stock worth $27,317,000 after acquiring an additional 224,390 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 9.6% in the first quarter. LPL Financial LLC now owns 2,450,532 shares of the investment management company's stock worth $35,435,000 after acquiring an additional 215,188 shares during the last quarter. 10.25% of the stock is owned by institutional investors.

About Pimco Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in corporate debt obligations rated in the lowest investment grade category Baa or BBB and in the highest non-investment grade category Ba or BB.

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