Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Pimco Corporate & Income Opportunity Fund shares recently fell below their 200-day moving average, closing at $13.86 compared to the average of $14.02.
• The fund declared a monthly dividend of $0.1188 per share, translating to an annualized yield of 10.29%.
• Institutional investors raised their stakes in the fund, with several firms increasing their holdings by over 9% in the last quarter.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.02 and traded as low as $13.84. Pimco Corporate & Income Opportunity Fund shares last traded at $13.86, with a volume of 801,034 shares traded.

Pimco Corporate & Income Opportunity Fund Stock Performance

The stock has a 50-day moving average price of $13.78 and a two-hundred day moving average price of $14.01.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 11th will be given a dividend of $0.1188 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Institutional Investors Weigh In On Pimco Corporate & Income Opportunity Fund

Hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund during the fourth quarter valued at about $58,000. StoneX Group Inc. acquired a new stake in Pimco Corporate & Income Opportunity Fund during the fourth quarter worth about $239,000. Orleans Capital Management Corp LA grew its holdings in Pimco Corporate & Income Opportunity Fund by 1.9% in the fourth quarter. Orleans Capital Management Corp LA now owns 102,305 shares of the investment management company's stock valued at $1,515,000 after purchasing an additional 1,935 shares during the period. Envestnet Asset Management Inc. grew its holdings in Pimco Corporate & Income Opportunity Fund by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 545,915 shares of the investment management company's stock valued at $7,845,000 after purchasing an additional 11,765 shares during the period. Finally, Integrity Financial Corp WA lifted its position in shares of Pimco Corporate & Income Opportunity Fund by 8.8% in the fourth quarter. Integrity Financial Corp WA now owns 33,996 shares of the investment management company's stock valued at $489,000 after acquiring an additional 2,752 shares in the last quarter. 10.25% of the stock is currently owned by hedge funds and other institutional investors.

Pimco Corporate & Income Opportunity Fund Company Profile

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.