Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Large Volume Increase – Still a Buy?

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY) saw an uptick in trading volume on Monday . Approximately 1,901,275 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,176,106 shares.The stock last traded at $11.2350 and had previously closed at $11.43.

Pimco Corporate & Income Opportunity Fund Price Performance

The business has a 50 day simple moving average of $11.75 and a two-hundred day simple moving average of $11.95.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.1188 dividend. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new position in Pimco Corporate & Income Opportunity Fund during the 1st quarter valued at about $32,000. Continuum Advisory LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $37,000. Ameritas Advisory Services LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $75,000. Global Retirement Partners LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $106,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 1,000.0% during the second quarter. CoreCap Advisors LLC now owns 9,900 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 10.25% of the company’s stock.

Pimco Corporate & Income Opportunity Fund Company Profile

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 related asset classes.

The fund’s primary investment objective is to provide high current income, with capital appreciation as a secondary objective. It invests in a diversified portfolio of corporate debt and other income-producing securities, which may include investment-grade and below-investment-grade bonds, bank loans, preferred securities and other fixed-income instruments.