PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.44 and traded as low as $12.87. PIMCO Corporate & Income Opportunity Fund shares last traded at $12.94, with a volume of 1,108,936 shares traded.

PIMCO Corporate & Income Opportunity Fund Stock Performance

The stock’s 50-day moving average is $14.21 and its two-hundred day moving average is $14.43.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders 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 10.89%. The ex-dividend date of this dividend is Friday, April 11th.

Institutional Investors Weigh In On PIMCO Corporate & Income Opportunity Fund

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