Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Large Volume Increase – What’s Next?

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY) saw unusually-strong trading volume on Tuesday . Approximately 1,851,882 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 1,167,647 shares.The stock last traded at $12.4850 and had previously closed at $12.82.

Pimco Corporate & Income Opportunity Fund Stock Performance

The stock has a 50-day moving average price of $13.01 and a 200-day moving average price of $13.53.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th were paid a $0.1188 dividend. The ex-dividend date was Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 11.3%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Pimco Corporate & Income Opportunity Fund by 6.8% during the fourth quarter. Invesco Ltd. now owns 1,324,697 shares of the investment management company’s stock valued at $17,089,000 after acquiring an additional 83,965 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 4th quarter valued at $133,000. Smith Asset Management Co. LLC increased its stake in Pimco Corporate & Income Opportunity Fund by 1.3% during the 4th quarter. Smith Asset Management Co. LLC now owns 162,381 shares of the investment management company’s stock valued at $2,095,000 after purchasing an additional 2,055 shares in the last quarter. Plotkin Financial Advisors LLC raised its holdings in 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 buying an additional 2,084 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund in the fourth quarter valued at $27,000. Institutional investors own 10.25% of the company’s stock.

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.