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

Key Points

• PTY shares fell below their 200-day moving average of $12.08, reaching an intraday low of $11.75 and last trading at $11.7650 on volume of 742,895 shares.
• The fund announced a monthly dividend of $0.1188 per share, payable September 1 to shareholders of record August 13, representing a stated annualized yield of approximately 12.1%.
• Institutional ownership stands at 10.25%, with several firms increasing their positions during the fourth quarter; UBS Group more than doubled its stake.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.08 and traded as low as $11.75. Pimco Corporate & Income Opportunity Fund shares last traded at $11.7650, with a volume of 742,895 shares changing hands.

Pimco Corporate & Income Opportunity Fund Stock Performance

The company has a 50 day simple moving average of $11.83 and a 200 day simple moving average of $12.08.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.1188 per share. This represents a c) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. World Investment Advisors acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 4th quarter valued at $410,000. Smith Asset Management Co. LLC lifted its stake in shares of Pimco Corporate & Income Opportunity Fund by 1.3% during the fourth quarter. Smith Asset Management Co. LLC now owns 162,381 shares of the investment management company's stock worth $2,095,000 after purchasing an additional 2,055 shares in the last quarter. Plotkin Financial Advisors LLC lifted its stake in shares of Pimco Corporate & Income Opportunity Fund by 1.7% during the fourth quarter. Plotkin Financial Advisors LLC now owns 127,102 shares of the investment management company's stock worth $1,640,000 after purchasing an additional 2,084 shares in the last quarter. UBS Group AG boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 95.2% in the fourth quarter. UBS Group AG now owns 196,055 shares of the investment management company's stock worth $2,529,000 after buying an additional 95,636 shares during the period. Finally, Evergreen Wealth Management LLC boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 4.6% in the fourth quarter. Evergreen Wealth Management LLC now owns 352,230 shares of the investment management company's stock worth $4,544,000 after buying an additional 15,378 shares during the period. 10.25% of the stock is owned by institutional investors and hedge funds.

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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