Short Interest in Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Expands By 301.9%

Key Points

• Short interest in PTY surged 301.9% in July, rising to 569,146 shares as of July 15 from 141,608 shares on June 30. That still amounts to only 0.3% of shares outstanding, with a short-interest ratio of 0.5 days.
• The fund’s shares were near recent lows, trading up slightly to $11.71 on Friday, close to its 52-week low of $11.58 and below both its 50-day and 200-day moving averages.
• PTY announced a monthly dividend of $0.1188 per share payable on August 3, which annualizes to a 12.2% yield. Institutional ownership remains relatively modest at 10.25% of the stock.

Pimco Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 569,146 shares, a growth of 301.9% from the June 30th total of 141,608 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 1,100,581 shares, the short-interest ratio is currently 0.5 days.

Pimco Corporate & Income Opportunity Fund Price Performance

Shares of NYSE:PTY traded up $0.10 on Friday, reaching $11.71. The company's stock had a trading volume of 913,733 shares, compared to its average volume of 1,005,214. Pimco Corporate & Income Opportunity Fund has a 52-week low of $11.58 and a 52-week high of $14.69. The stock's 50-day moving average is $11.86 and its two-hundred day moving average is $12.31.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be given a dividend of $0.1188 per share. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Investors Weigh In On Pimco Corporate & Income Opportunity Fund

Several hedge funds have recently modified their holdings of PTY. Merrithew & Thorsten Inc acquired a new position in shares of Pimco Corporate & Income Opportunity Fund during the fourth quarter worth about $19,710,000. Rivernorth Capital Management LLC purchased a new stake in Pimco Corporate & Income Opportunity Fund in the 4th quarter valued at approximately $16,026,000. Invesco Ltd. acquired a new position in Pimco Corporate & Income Opportunity Fund during the 2nd quarter worth approximately $16,400,000. Wells Fargo & Company MN raised its stake in shares of Pimco Corporate & Income Opportunity Fund by 209.6% during the 4th quarter. Wells Fargo & Company MN now owns 627,242 shares of the investment management company's stock worth $8,091,000 after buying an additional 424,649 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Pimco Corporate & Income Opportunity Fund by 19.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,349,452 shares of the investment management company's stock worth $33,926,000 after buying an additional 385,602 shares in the last quarter. 10.25% of the stock is owned by institutional investors and hedge funds.

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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