PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Stock Passes Below 200 Day Moving Average – Should You Sell?

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.40 and traded as low as $14.28. PIMCO Corporate & Income Opportunity Fund shares last traded at $14.37, with a volume of 546,354 shares.

PIMCO Corporate & Income Opportunity Fund Stock Up 0.1 %

The firm has a fifty day simple moving average of $14.56 and a two-hundred day simple moving average of $14.40.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be given a dividend of $0.1188 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.43 annualized dividend and a yield of 9.91%.

Hedge Funds Weigh In On PIMCO Corporate & Income Opportunity Fund

A number of institutional investors have recently made changes to their positions in the stock. Axxcess Wealth Management LLC bought a new position in shares of PIMCO Corporate & Income Opportunity Fund during the 2nd quarter valued at about $7,233,000. Envestnet Asset Management Inc. grew its position in PIMCO Corporate & Income Opportunity Fund by 81.3% during the second quarter. Envestnet Asset Management Inc. now owns 527,690 shares of the investment management company’s stock valued at $7,551,000 after acquiring an additional 236,616 shares during the last quarter. Truist Financial Corp raised its stake in shares of PIMCO Corporate & Income Opportunity Fund by 458.4% during the second quarter. Truist Financial Corp now owns 268,396 shares of the investment management company’s stock worth $3,841,000 after acquiring an additional 220,335 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PIMCO Corporate & Income Opportunity Fund by 27.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 716,571 shares of the investment management company’s stock valued at $10,254,000 after purchasing an additional 152,443 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of PIMCO Corporate & Income Opportunity Fund during the 3rd quarter valued at $2,178,000. Institutional investors own 10.25% of the company’s stock.

About PIMCO Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in corporate debt obligations rated in the lowest investment grade category Baa or BBB and in the highest non-investment grade category Ba or BB.