Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Shares Break Below 200-Day Moving Average - What's Next?

Key Points

• PTY fell below its 200-day moving average of $11.71, reaching an intraday low of $10.66 before last trading at $10.7350 on elevated volume.
• The fund declared a monthly dividend of $0.1188, equivalent to $1.43 annually and a 13.3% yield; the payment is scheduled for November 2.
• Institutional investors made several additions to their positions, though institutions and hedge funds collectively own only 10.25% of the closed-end fund.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $11.71 and traded as low as $10.66. Pimco Corporate & Income Opportunity Fund shares last traded at $10.7350, with a volume of 1,029,706 shares trading hands.

Pimco Corporate & Income Opportunity Fund Stock Up 0.1%

The business has a fifty day moving average of $11.28 and a two-hundred day moving average of $11.71.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a $0.1188 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 13.3%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at $32,763,000. XML Financial LLC raised its position in Pimco Corporate & Income Opportunity Fund by 10.3% during the second quarter. XML Financial LLC now owns 1,754,583 shares of the investment management company's stock worth $21,108,000 after acquiring an additional 163,536 shares during the period. Cetera Investment Advisers raised its position in Pimco Corporate & Income Opportunity Fund by 3.0% during the first quarter. Cetera Investment Advisers now owns 1,153,947 shares of the investment management company's stock worth $13,917,000 after acquiring an additional 33,527 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Pimco Corporate & Income Opportunity Fund by 7.4% during the third quarter. Axxcess Wealth Management LLC now owns 670,821 shares of the investment management company's stock valued at $7,386,000 after purchasing an additional 46,131 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Pimco Corporate & Income Opportunity Fund by 2.8% during the first quarter. Royal Bank of Canada now owns 600,310 shares of the investment management company's stock valued at $7,240,000 after purchasing an additional 16,237 shares in the last quarter. 10.25% of the stock is owned by institutional investors and hedge funds.

About Pimco Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PTY. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment manager specializing in fixed-income and other asset classes.

The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. It invests primarily in a diversified portfolio of corporate debt and other income-producing securities, including investment-grade and below-investment-grade bonds.

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