Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 52-Week Low - Here's What Happened

Key Points

• PTY hit a new 52-week low, falling as much as 0.9% to $10.65 before trading near $10.69. Its price remains below both its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.1188 per share, equivalent to $1.43 annually and a 13.4% yield, with payment scheduled for November 2.
• Several institutional investors increased their positions, while institutions and hedge funds collectively own 10.25% of the fund.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $10.65 and last traded at $10.6940, with a volume of 327,421 shares trading hands. The stock had previously closed at $10.75.

Pimco Corporate & Income Opportunity Fund Stock Down 0.9%

The company has a 50 day moving average price of $11.42 and a 200 day moving average price of $11.76.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a $0.1188 dividend. This represents a $1.43 annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, October 13th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Beacon Financial Advisory LLC boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 6.8% during the 1st quarter. Beacon Financial Advisory LLC now owns 14,421 shares of the investment management company's stock worth $174,000 after acquiring an additional 918 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 12.9% in the 1st quarter. Stephens Inc. AR now owns 11,520 shares of the investment management company's stock valued at $139,000 after purchasing an additional 1,320 shares during the period. Nwam LLC boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 3.8% in the 1st quarter. Nwam LLC now owns 43,816 shares of the investment management company's stock valued at $528,000 after purchasing an additional 1,601 shares during the period. Centaurus Financial Inc. increased its stake in Pimco Corporate & Income Opportunity Fund by 8.2% in the 1st quarter. Centaurus Financial Inc. now owns 24,977 shares of the investment management company's stock worth $301,000 after purchasing an additional 1,898 shares in the last quarter. Finally, NWF Advisory Services Inc. raised its holdings in Pimco Corporate & Income Opportunity Fund by 4.9% during the 2nd quarter. NWF Advisory Services Inc. now owns 41,334 shares of the investment management company's stock worth $497,000 after buying an additional 1,939 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 NYSE: PTY is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO), a global investment manager. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in corporate debt obligations and other income-producing securities. Its portfolio may include investment-grade and below-investment-grade securities, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments.

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