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

Key Points

• PTY shares fell below their 200-day moving average of $12.19, trading as low as $11.84 and last changing hands near $11.8450 on volume of about 1.27 million shares.
• The fund announced a monthly dividend of $0.1188 per share, payable September 1 to shareholders of record August 13. The dividend implies an annualized yield of approximately 12.0%.
• Institutional investors and hedge funds own 10.25% of PTY, with several firms increasing or initiating positions recently, including Invesco, which acquired a stake valued at roughly $16.4 million.

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.19 and traded as low as $11.84. Pimco Corporate & Income Opportunity Fund shares last traded at $11.8450, with a volume of 1,273,002 shares changing hands.

Pimco Corporate & Income Opportunity Fund Stock Performance

The company has a 50 day moving average of $11.85 and a 200-day moving average of $12.19.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.1188 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in Pimco Corporate & Income Opportunity Fund by 0.8% during the first quarter. Royal Bank of Canada now owns 272,394 shares of the investment management company's stock worth $3,939,000 after acquiring an additional 2,256 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Pimco Corporate & Income Opportunity Fund in the first quarter valued at approximately $209,000. NewEdge Advisors LLC grew its holdings in shares of Pimco Corporate & Income Opportunity Fund by 2.5% during the first quarter. NewEdge Advisors LLC now owns 88,471 shares of the investment management company's stock valued at $1,279,000 after purchasing an additional 2,164 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund during the first quarter valued at approximately $472,000. Finally, Invesco Ltd. acquired a new stake in shares of Pimco Corporate & Income Opportunity Fund during the 2nd quarter worth approximately $16,400,000. 10.25% of the stock is owned by institutional investors and hedge funds.

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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