Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.91 and traded as low as $13.55. Pimco Corporate & Income Opportunity Fund shares last traded at $13.6450, with a volume of 1,345,164 shares changing hands.

Pimco Corporate & Income Opportunity Fund Price Performance

The firm has a 50 day moving average price of $14.22 and a 200-day moving average price of $13.91.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be paid a $0.1188 dividend. This represents a c) annualized dividend and a dividend yield of 10.4%. The ex-dividend date is Tuesday, October 14th.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Pimco Corporate & Income Opportunity Fund by 66.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,462 shares of the investment management company’s stock worth $412,000 after purchasing an additional 11,407 shares during the last quarter. Private Trust Co. NA lifted its stake in Pimco Corporate & Income Opportunity Fund by 12.3% during the first quarter. Private Trust Co. NA now owns 14,095 shares of the investment management company’s stock worth $204,000 after purchasing an additional 1,540 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Pimco Corporate & Income Opportunity Fund by 25.0% during the first quarter. D.A. Davidson & CO. now owns 31,517 shares of the investment management company’s stock worth $456,000 after purchasing an additional 6,313 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Pimco Corporate & Income Opportunity Fund by 4.5% during the first quarter. OneDigital Investment Advisors LLC now owns 69,520 shares of the investment management company’s stock worth $1,005,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Pimco Corporate & Income Opportunity Fund by 11.4% during the first quarter. Envestnet Asset Management Inc. now owns 608,033 shares of the investment management company’s stock worth $8,792,000 after purchasing an additional 62,118 shares during the last quarter. 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.