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

Key Points

• Short interest in PTY fell sharply in June, dropping 62.8% to 141,608 shares as of June 30 from 380,492 shares on June 15. That equals about 0.1% of shares short and just 0.1 days to cover based on average volume.
• The fund declared a monthly dividend of $0.1188 per share, payable on August 3 to shareholders of record on July 13. The dividend implies an annualized yield of 11.8%.
• Institutional investors continue to hold and add to positions, with several firms reporting new stakes or large increases in holdings. Institutions now own 10.25% of the fund’s shares.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 141,608 shares, a decline of 62.8% from the June 15th total of 380,492 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 1,135,546 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Large investors have recently added to or reduced their stakes in the business. Merrithew & Thorsten Inc acquired a new position in Pimco Corporate & Income Opportunity Fund during the 4th quarter valued at about $19,710,000. Rivernorth Capital Management LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the fourth quarter worth approximately $16,026,000. Invesco Ltd. purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the second quarter worth approximately $16,400,000. Wells Fargo & Company MN lifted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 209.6% in the fourth quarter. Wells Fargo & Company MN now owns 627,242 shares of the investment management company's stock valued at $8,091,000 after purchasing an additional 424,649 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 19.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,349,452 shares of the investment management company's stock valued at $33,926,000 after purchasing an additional 385,602 shares in the last quarter. Institutional investors own 10.25% of the company's stock.

Pimco Corporate & Income Opportunity Fund Stock Performance

PTY opened at $12.10 on Monday. Pimco Corporate & Income Opportunity Fund has a 1-year low of $11.58 and a 1-year high of $14.69. The company's fifty day moving average price is $11.93 and its two-hundred day moving average price is $12.38.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be given 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 dividend yield of 11.8%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.