Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 12-Month Low - What's Next?

Key Points

• PTY hit a new 52-week low, falling 0.8% to $11.53 after trading as low as $11.50. Its 50-day and 200-day moving averages were $11.80 and $11.99, respectively.
• The fund declared a monthly dividend of $0.1188 per share, payable October 1 to shareholders of record September 11, representing an annualized yield of approximately 12.4%.
• Institutional ownership stands at 10.25%, with several investment firms adding to or initiating positions during the second quarter, including HighTower Advisors, which increased its holdings by 84.5%.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $11.50 and last traded at $11.53, with a volume of 46334 shares. The stock had previously closed at $11.60.

Pimco Corporate & Income Opportunity Fund Stock Down 0.8%

The firm has a fifty day moving average price of $11.80 and a 200-day moving average price of $11.99.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.1188 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Friday, September 11th.

Institutional Investors Weigh In On Pimco Corporate & Income Opportunity Fund

Hedge funds have recently made changes to their positions in the business. AG Asset Advisory LLC boosted its holdings in shares of Pimco Corporate & Income Opportunity Fund by 8.0% in the 2nd quarter. AG Asset Advisory LLC now owns 164,641 shares of the investment management company's stock worth $1,981,000 after buying an additional 12,243 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Pimco Corporate & Income Opportunity Fund during the 2nd quarter worth $160,000. Corient Private Wealth LP bought a new position in shares of Pimco Corporate & Income Opportunity Fund during the 2nd quarter valued at about $170,000. HighTower Advisors LLC increased its position in shares of Pimco Corporate & Income Opportunity Fund by 84.5% during the 2nd quarter. HighTower Advisors LLC now owns 127,516 shares of the investment management company's stock valued at $1,534,000 after purchasing an additional 58,412 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund during the 2nd quarter valued at about $75,000. 10.25% of the stock is currently owned by institutional investors.

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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