PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Sees Large Volume Increase After Dividend Announcement

Shares of PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 950,717 shares traded hands during trading, an increase of 53% from the previous session’s volume of 620,810 shares.The stock last traded at $13.72 and had previously closed at $14.41.

The newly announced dividend which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.1188 per share. This represents a $1.43 annualized dividend and a yield of 11.03%. The ex-dividend date of this dividend is Friday, April 11th.

PIMCO Corporate & Income Opportunity Fund Stock Performance

The company has a 50-day moving average of $14.56 and a 200-day moving average of $14.52.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of PIMCO Corporate & Income Opportunity Fund during the fourth quarter worth about $27,000. Continuum Advisory LLC increased its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 30.3% in the fourth quarter. Continuum Advisory LLC now owns 3,072 shares of the investment management company’s stock valued at $44,000 after purchasing an additional 714 shares during the period. Bank of New Hampshire boosted its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 79.3% in the fourth quarter. Bank of New Hampshire now owns 3,425 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 1,515 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of PIMCO Corporate & Income Opportunity Fund during the 4th quarter worth approximately $58,000. Finally, IHT Wealth Management LLC acquired a new stake in PIMCO Corporate & Income Opportunity Fund in the fourth quarter valued at $146,000. 10.25% of the stock is owned by institutional investors and hedge funds.

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.