PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 52-Week Low – What’s Next?

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY)’s stock price hit a new 52-week low on Saturday . The company traded as low as $12.50 and last traded at $12.93, with a volume of 6265942 shares. The stock had previously closed at $14.41.

PIMCO Corporate & Income Opportunity Fund Price Performance

The company’s 50-day simple moving average is $14.56 and its 200-day simple moving average is $14.52.

PIMCO Corporate & Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.1188 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date of this dividend is Friday, April 11th.

Hedge Funds Weigh In On PIMCO Corporate & Income Opportunity Fund

A number of institutional investors have recently bought and sold shares of PTY. Raymond James Financial Inc. purchased a new position in PIMCO Corporate & Income Opportunity Fund during the 4th quarter worth approximately $10,145,000. Independent Advisor Alliance lifted its stake in PIMCO Corporate & Income Opportunity Fund by 2,712.2% in the 4th quarter. Independent Advisor Alliance now owns 298,314 shares of the investment management company’s stock worth $4,287,000 after acquiring an additional 287,706 shares in the last quarter. LPL Financial LLC boosted its position in PIMCO Corporate & Income Opportunity Fund by 10.5% during the 4th quarter. LPL Financial LLC now owns 2,235,344 shares of the investment management company’s stock worth $32,122,000 after acquiring an additional 212,384 shares during the period. Concourse Financial Group Securities Inc. grew its stake in PIMCO Corporate & Income Opportunity Fund by 21.1% during the 4th quarter. Concourse Financial Group Securities Inc. now owns 506,538 shares of the investment management company’s stock valued at $7,415,000 after acquiring an additional 88,232 shares in the last quarter. Finally, Elm3 Financial Group LLC purchased a new stake in shares of PIMCO Corporate & Income Opportunity Fund in the fourth quarter worth approximately $1,239,000. Hedge funds and other institutional investors 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.