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

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) crossed below its 200-day moving average during trading on Monday . The stock has a 200-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.

PIMCO Corporate & Income Opportunity Fund Trading Up 0.3 %

The company’s 50-day moving average price is $14.53 and its 200 day moving average price is $14.41.

PIMCO Corporate & Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a $0.1188 dividend. This represents a $1.43 annualized dividend and a dividend yield of 9.92%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Trading of PIMCO Corporate & Income Opportunity Fund

A number of hedge funds and other institutional investors have recently modified their holdings of PTY. Axxcess Wealth Management LLC acquired a new position in PIMCO Corporate & Income Opportunity Fund in the second quarter valued at about $7,233,000. Envestnet Asset Management Inc. lifted its holdings 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 during the last quarter. Truist Financial Corp boosted its position in shares of PIMCO Corporate & Income Opportunity Fund by 458.4% during the 2nd quarter. Truist Financial Corp now owns 268,396 shares of the investment management company’s stock worth $3,841,000 after purchasing an additional 220,335 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in 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 during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in PIMCO Corporate & Income Opportunity Fund in the third quarter valued at approximately $2,178,000. 10.25% of the stock is owned by institutional investors and hedge funds.

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.