Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Stock Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Technical sell signal: PTY traded below its 200-day moving average of $13.34, hitting a low of $11.90 and last trading at $11.9150 on heavy volume (1,373,187 shares).
• High income distribution: The fund declared a monthly dividend of $0.1188 per share payable April 1 to holders of record March 12, implying an annualized yield of about 12.0% (ex-dividend March 12).
• Institutional ownership is relatively low at about 10.25%, though several managers (e.g., Rockefeller Capital, Golden State Equity) have modestly increased their stakes in recent quarters.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.34 and traded as low as $11.90. Pimco Corporate & Income Opportunity Fund shares last traded at $11.9150, with a volume of 1,373,187 shares changing hands.

Pimco Corporate & Income Opportunity Fund Price Performance

The firm's fifty day moving average price is $12.79 and its 200 day moving average price is $13.34.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be issued a dividend of $0.1188 per share. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Trading of Pimco Corporate & Income Opportunity Fund

A number of hedge funds have recently bought and sold shares of PTY. Farther Finance Advisors LLC boosted its position in Pimco Corporate & Income Opportunity Fund by 9.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,470 shares of the investment management company's stock valued at $122,000 after acquiring an additional 735 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Pimco Corporate & Income Opportunity Fund by 2.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 34,708 shares of the investment management company's stock worth $483,000 after acquiring an additional 761 shares in the last quarter. Modern Wealth Management LLC lifted its stake in shares of Pimco Corporate & Income Opportunity Fund by 6.0% during the 2nd quarter. Modern Wealth Management LLC now owns 13,826 shares of the investment management company's stock worth $192,000 after purchasing an additional 784 shares during the last quarter. Golden State Equity Partners lifted its stake in shares of Pimco Corporate & Income Opportunity Fund by 0.5% during the 4th quarter. Golden State Equity Partners now owns 175,846 shares of the investment management company's stock worth $2,268,000 after purchasing an additional 828 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in Pimco Corporate & Income Opportunity Fund by 7.7% during the fourth quarter. Insigneo Advisory Services LLC now owns 13,502 shares of the investment management company's stock valued at $174,000 after purchasing an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 10.25% of the company's stock.

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.

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