Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Share Price Passes Below 200-Day Moving Average - Here's Why

Key Points

• Pimco Corporate & Income Opportunity Fund (NYSE: PTY) fell below its 200-day moving average during Monday’s trading, with shares dipping to as low as $11.79 versus a 200-day average of $12.34.
• The fund announced a monthly dividend of $0.1188 per share, payable on August 3 to shareholders of record on July 13, implying an annualized yield of about 12.1%.
• Institutional investors remain active in PTY, with several firms increasing their holdings, though institutional ownership is still relatively modest at 10.25%.

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.34 and traded as low as $11.79. Pimco Corporate & Income Opportunity Fund shares last traded at $11.8150, with a volume of 923,688 shares.

Pimco Corporate & Income Opportunity Fund Stock Performance

The company's 50 day simple moving average is $11.88 and its 200 day simple moving average is $12.34.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a dividend of $0.1188 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) annualized dividend and a yield of 12.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PTY. Modern Wealth Management LLC raised its position in shares of Pimco Corporate & Income Opportunity Fund by 6.0% during the second quarter. Modern Wealth Management LLC now owns 13,826 shares of the investment management company's stock worth $192,000 after purchasing an additional 784 shares during the period. Golden State Equity Partners lifted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 0.5% during the fourth quarter. Golden State Equity Partners now owns 175,846 shares of the investment management company's stock valued at $2,268,000 after purchasing an additional 828 shares during the last quarter. Beacon Financial Advisory LLC boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 6.8% in the 1st quarter. Beacon Financial Advisory LLC now owns 14,421 shares of the investment management company's stock valued at $174,000 after purchasing an additional 918 shares during the period. Insigneo Advisory Services LLC boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 7.7% in the 4th quarter. Insigneo Advisory Services LLC now owns 13,502 shares of the investment management company's stock valued at $174,000 after purchasing an additional 970 shares during the period. Finally, Lido Advisors LLC increased its stake in Pimco Corporate & Income Opportunity Fund by 4.1% in the 4th quarter. Lido Advisors LLC now owns 30,626 shares of the investment management company's stock worth $397,000 after purchasing an additional 1,205 shares in the last quarter. 10.25% of the stock is 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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