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

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) saw an uptick in trading volume on Tuesday . 397,366 shares traded hands during trading, a decline of 32% from the previous session’s volume of 584,750 shares.The stock last traded at $14.39 and had previously closed at $14.39.

PIMCO Corporate & Income Opportunity Fund Stock Performance

The company’s 50-day moving average price is $14.27 and its 200-day moving average price is $14.32.

PIMCO Corporate & Income Opportunity Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.1188 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.43 dividend on an annualized basis and a yield of 9.89%.

Institutional Investors Weigh In On PIMCO Corporate & Income Opportunity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of PTY. ICA Group Wealth Management LLC purchased a new stake in PIMCO Corporate & Income Opportunity Fund in the fourth quarter valued at $38,000. International Assets Investment Management LLC purchased a new stake in PIMCO Corporate & Income Opportunity Fund in the second quarter valued at $47,000. EverSource Wealth Advisors LLC raised its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 204.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,700 shares of the investment management company’s stock valued at $96,000 after buying an additional 4,500 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of PIMCO Corporate & Income Opportunity Fund by 19.4% during the first quarter. AlphaMark Advisors LLC now owns 9,440 shares of the investment management company’s stock worth $140,000 after buying an additional 1,536 shares during the period. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of PIMCO Corporate & Income Opportunity Fund during the second quarter worth about $142,000. 10.25% of the stock is owned by hedge funds and other institutional investors.

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.