Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Share Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• PTY shares fell below their 200-day moving average of $12.00, trading as low as $11.72 and last changing hands near $11.74 on elevated volume.
• The fund announced a monthly dividend of $0.1188 per share, equating to a reported 12.1% annualized yield; the ex-dividend and record date is September 11, with payment scheduled for October 1.
• Institutional ownership stands at 10.25%, with several firms adding to or initiating positions during the second quarter, while PTY focuses on generating income through corporate debt and other fixed-income investments.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.00 and traded as low as $11.72. Pimco Corporate & Income Opportunity Fund shares last traded at $11.7350, with a volume of 954,182 shares trading hands.

Pimco Corporate & Income Opportunity Fund Stock Performance

The stock has a fifty day simple moving average of $11.81 and a 200-day simple moving average of $12.00.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.1188 per share. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date is Friday, September 11th.

Institutional Investors Weigh In On Pimco Corporate & Income Opportunity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AG Asset Advisory LLC increased its holdings in shares of Pimco Corporate & Income Opportunity Fund by 8.0% during the 2nd quarter. AG Asset Advisory LLC now owns 164,641 shares of the investment management company's stock worth $1,981,000 after acquiring an additional 12,243 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Pimco Corporate & Income Opportunity Fund during the second quarter worth $160,000. Corient Private Wealth LP acquired a new position in shares of Pimco Corporate & Income Opportunity Fund in the second quarter valued at $170,000. HighTower Advisors LLC increased its holdings in shares of Pimco Corporate & Income Opportunity Fund by 84.5% in the second 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 bought a new position in shares of Pimco Corporate & Income Opportunity Fund in the second quarter valued at about $75,000. Institutional investors own 10.25% of the company's stock.

About Pimco Corporate & Income Opportunity Fund

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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