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

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.98 and traded as low as $13.91. Pimco Corporate & Income Opportunity Fund shares last traded at $13.93, with a volume of 566,422 shares traded.

Pimco Corporate & Income Opportunity Fund Stock Up 0.1%

The business's 50 day moving average is $13.83 and its 200-day moving average is $13.98.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a $0.1188 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Institutional Investors Weigh In On Pimco Corporate & Income Opportunity Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC increased its position 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 purchasing an additional 215,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Pimco Corporate & Income Opportunity Fund by 12.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,963,850 shares of the investment management company's stock worth $27,317,000 after purchasing an additional 224,390 shares during the last quarter. XML Financial LLC increased its position in shares of Pimco Corporate & Income Opportunity Fund by 1.4% in the 2nd quarter. XML Financial LLC now owns 1,512,364 shares of the investment management company's stock worth $21,037,000 after purchasing an additional 21,167 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Pimco Corporate & Income Opportunity Fund by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,466,153 shares of the investment management company's stock worth $20,394,000 after purchasing an additional 26,532 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth about $16,400,000. Institutional investors own 10.25% of the company's stock.

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.

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