Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Shares Cross Below 200 Day Moving Average - Time to Sell?

Key Points

• PTY fell below its 200-day moving average: Shares traded as low as $11.72 and last changed hands at $11.765, below the 200-day average of $12.24, signaling recent technical weakness.
• The fund maintains a high monthly dividend: PTY paid a monthly dividend of $0.1188, representing an annualized yield of approximately 12.1%.
• Institutional ownership increased: Several investment firms added to their positions during the second quarter, though institutions collectively own only 10.25% of the fund.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.24 and traded as low as $11.72. Pimco Corporate & Income Opportunity Fund shares last traded at $11.7650, with a volume of 1,846,935 shares trading hands.

Pimco Corporate & Income Opportunity Fund Trading Up 0.5%

The company has a 50 day simple moving average of $11.85 and a 200-day simple moving average of $12.24.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Monday, July 13th were issued a $0.1188 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date was Monday, July 13th.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Several large investors have recently added to or reduced their stakes in the company. First Heartland Consultants Inc. bought a new stake in Pimco Corporate & Income Opportunity Fund during the second quarter valued at $1,196,000. Dynamic Advisor Solutions LLC lifted its position in shares of Pimco Corporate & Income Opportunity Fund by 9.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 382,350 shares of the investment management company's stock worth $4,600,000 after buying an additional 32,564 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Pimco Corporate & Income Opportunity Fund by 1,000.0% in the 2nd quarter. CoreCap Advisors LLC now owns 9,900 shares of the investment management company's stock worth $119,000 after buying an additional 9,000 shares during the last quarter. Noble Wealth Management PBC boosted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 27.3% in the 2nd quarter. Noble Wealth Management PBC now owns 333,049 shares of the investment management company's stock valued at $4,007,000 after buying an additional 71,443 shares during the period. Finally, Rathbones Group PLC acquired a new position in shares of Pimco Corporate & Income Opportunity Fund in the 1st quarter valued at about $181,000. 10.25% of the stock is currently owned by institutional investors.

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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