Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Short Interest Update

Key Points

• Short interest plunged 61.8% to 180,958 shares as of April 15, representing about 0.1% of shares outstanding and a days-to-cover ratio of just 0.2.
• Monthly dividend announced: PTY will pay $0.1188 per share (ex-dividend April 13), implying a roughly 11.7% annualized yield.
• Institutional buying noted: Several funds increased stakes in the fund during the third quarter, and institutional investors now own about 10.25% of the stock.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 180,958 shares, a decrease of 61.8% from the March 31st total of 474,189 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 1,064,179 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PTY. Coston McIsaac & Partners raised its holdings in Pimco Corporate & Income Opportunity Fund by 1,841.7% during the 3rd quarter. Coston McIsaac & Partners now owns 12,058 shares of the investment management company's stock valued at $174,000 after buying an additional 11,437 shares during the period. Belpointe Asset Management LLC raised its holdings in Pimco Corporate & Income Opportunity Fund by 220.7% during the 3rd quarter. Belpointe Asset Management LLC now owns 32,069 shares of the investment management company's stock valued at $463,000 after buying an additional 22,069 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Pimco Corporate & Income Opportunity Fund by 10.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,796 shares of the investment management company's stock valued at $416,000 after buying an additional 2,791 shares during the period. Instrumental Wealth LLC raised its holdings in Pimco Corporate & Income Opportunity Fund by 10.2% during the 3rd quarter. Instrumental Wealth LLC now owns 13,336 shares of the investment management company's stock valued at $183,000 after buying an additional 1,232 shares during the period. Finally, Delta Financial Advisors LLC purchased a new stake in Pimco Corporate & Income Opportunity Fund during the 3rd quarter valued at $569,000. 10.25% of the stock is currently owned by institutional investors.

Pimco Corporate & Income Opportunity Fund Stock Up 0.4%

Shares of NYSE PTY traded up $0.05 during midday trading on Friday, reaching $12.15. 882,101 shares of the stock traded hands, compared to its average volume of 1,092,700. Pimco Corporate & Income Opportunity Fund has a one year low of $11.58 and a one year high of $14.69. The company's 50 day moving average is $12.33 and its 200 day moving average is $12.94.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Monday, April 13th will be given a dividend of $0.1188 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Monday, April 13th.

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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