Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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 changing hands.

Pimco Corporate & Income Opportunity Fund Price Performance

The company’s fifty day simple moving average is $11.26 and its 200 day simple moving average is $11.70.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, October 13th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 13.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund during the second quarter valued at approximately $32,763,000. Equitable Holdings Inc. bought a new position in Pimco Corporate & Income Opportunity Fund during the second quarter valued at approximately $6,654,000. Bank of America Corp DE purchased a new stake in Pimco Corporate & Income Opportunity Fund in the second quarter worth approximately $4,045,000. Ascentis Independent Advisors raised its stake in Pimco Corporate & Income Opportunity Fund by 109.5% during the 1st quarter. Ascentis Independent Advisors now owns 368,364 shares of the investment management company’s stock valued at $4,442,000 after buying an additional 192,518 shares during the last quarter. Finally, Beta Wealth Group Inc. purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 1st quarter worth $2,131,000. 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 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.