PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.41 and traded as low as $14.26. PIMCO Corporate & Income Opportunity Fund shares last traded at $14.35, with a volume of 692,863 shares trading hands.

PIMCO Corporate & Income Opportunity Fund Price Performance

The firm has a 50-day moving average price of $14.54 and a 200 day moving average price of $14.41.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be given a $0.1188 dividend. This represents a $1.43 annualized dividend and a dividend yield of 9.93%. The ex-dividend date is Monday, January 13th.

Institutional Investors Weigh In On PIMCO Corporate & Income Opportunity Fund

A number of large investors have recently added to or reduced their stakes in PTY. Axxcess Wealth Management LLC acquired a new stake in PIMCO Corporate & Income Opportunity Fund during the second quarter worth approximately $7,233,000. Envestnet Asset Management Inc. raised its position in shares of PIMCO Corporate & Income Opportunity Fund by 81.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 527,690 shares of the investment management company’s stock worth $7,551,000 after acquiring an additional 236,616 shares in the last quarter. Truist Financial Corp grew its stake in shares of PIMCO Corporate & Income Opportunity Fund by 458.4% in the 2nd quarter. Truist Financial Corp now owns 268,396 shares of the investment management company’s stock valued at $3,841,000 after buying an additional 220,335 shares during the period. Northwestern Mutual Wealth Management Co. grew 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 buying an additional 152,443 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC acquired a new position in PIMCO Corporate & Income Opportunity Fund during the 3rd quarter valued at about $2,178,000. Institutional investors and hedge funds own 10.25% of the company’s stock.

PIMCO Corporate & Income Opportunity Fund Company Profile

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.