PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.22 and traded as low as $13.82. PIMCO Corporate & Income Opportunity Fund shares last traded at $13.84, with a volume of 401,334 shares changing hands.

PIMCO Corporate & Income Opportunity Fund Stock Performance

The business has a 50-day moving average of $13.56 and a 200 day moving average of $14.21.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.1188 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 10.37%.

Hedge Funds Weigh In On PIMCO Corporate & Income Opportunity Fund

Institutional investors have recently modified their holdings of the company. Continuum Advisory LLC grew its stake in PIMCO Corporate & Income Opportunity Fund by 30.3% in the 4th quarter. Continuum Advisory LLC now owns 3,072 shares of the investment management company's stock worth $44,000 after acquiring an additional 714 shares during the period. Modern Wealth Management LLC lifted its stake in shares of PIMCO Corporate & Income Opportunity Fund by 5.9% during the 4th quarter. Modern Wealth Management LLC now owns 13,034 shares of the investment management company's stock worth $193,000 after purchasing an additional 727 shares during the period. Institute for Wealth Management LLC. boosted its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 6.7% during the first quarter. Institute for Wealth Management LLC. now owns 13,730 shares of the investment management company's stock worth $199,000 after purchasing an additional 860 shares during the last quarter. Objective Capital Management LLC grew its position in shares of PIMCO Corporate & Income Opportunity Fund by 2.1% in the first quarter. Objective Capital Management LLC now owns 44,014 shares of the investment management company's stock valued at $636,000 after purchasing an additional 914 shares during the period. Finally, C2C Wealth Management LLC grew its position in shares of PIMCO Corporate & Income Opportunity Fund by 1.4% in the fourth quarter. C2C Wealth Management LLC now owns 70,100 shares of the investment management company's stock valued at $1,007,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 10.25% of the company's stock.

About PIMCO Corporate & Income Opportunity Fund

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.