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

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.07 and traded as low as $13.87. Pimco Corporate & Income Opportunity Fund shares last traded at $13.93, with a volume of 829,889 shares trading hands.

Pimco Corporate & Income Opportunity Fund Stock Performance

The stock has a 50-day moving average of $13.78 and a two-hundred day moving average of $14.07.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 11th will be given a dividend of $0.1188 per share. This represents a $1.43 dividend on an annualized basis and a yield of 10.24%. The ex-dividend date of this dividend is Friday, July 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 4th quarter worth $10,145,000. Cetera Investment Advisers boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 58.1% in the 1st quarter. Cetera Investment Advisers now owns 1,439,621 shares of the investment management company's stock worth $20,817,000 after buying an additional 529,206 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 9.6% in the 1st quarter. LPL Financial LLC now owns 2,450,532 shares of the investment management company's stock worth $35,435,000 after buying an additional 215,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 10.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,739,460 shares of the investment management company's stock worth $25,153,000 after buying an additional 169,974 shares during the last quarter. Finally, Smith Asset Management Co. LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 1st quarter worth $2,417,000. Institutional investors own 10.25% of the company's stock.

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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