PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.52 and traded as low as $14.40. PIMCO Corporate & Income Opportunity Fund shares last traded at $14.44, with a volume of 524,087 shares changing hands.

PIMCO Corporate & Income Opportunity Fund Price Performance

The company’s 50-day moving average price is $14.59 and its 200-day moving average price is $14.52.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a $0.1188 dividend. This represents a $1.43 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend is Thursday, March 13th.

Hedge Funds Weigh In On PIMCO Corporate & Income Opportunity Fund

Hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance acquired a new position in PIMCO Corporate & Income Opportunity Fund during the third quarter worth about $153,000. Plotkin Financial Advisors LLC acquired a new position in shares of PIMCO Corporate & Income Opportunity Fund during the 3rd quarter worth approximately $1,708,000. HighTower Advisors LLC grew its position in shares of PIMCO Corporate & Income Opportunity Fund by 8.4% in the third quarter. HighTower Advisors LLC now owns 42,042 shares of the investment management company’s stock valued at $605,000 after purchasing an additional 3,254 shares in the last quarter. Jane Street Group LLC lifted its position in PIMCO Corporate & Income Opportunity Fund by 83.7% during the third quarter. Jane Street Group LLC now owns 22,991 shares of the investment management company’s stock worth $331,000 after buying an additional 10,477 shares in the last quarter. Finally, M&T Bank Corp lifted its position in PIMCO Corporate & Income Opportunity Fund by 14.7% during the third quarter. M&T Bank Corp now owns 126,310 shares of the investment management company’s stock worth $1,818,000 after buying an additional 16,180 shares in the last quarter. Institutional investors and hedge funds 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.