Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Shares Cross Below 200-Day Moving Average – What’s Next?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.19 and traded as low as $11.84. Pimco Corporate & Income Opportunity Fund shares last traded at $11.8450, with a volume of 1,273,002 shares traded.

Pimco Corporate & Income Opportunity Fund Trading Down 0.7%

The firm has a fifty day moving average price of $11.85 and a 200 day moving average price of $12.18.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.1188 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 12.1%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at approximately $32,763,000. XML Financial LLC grew its position in Pimco Corporate & Income Opportunity Fund by 3.5% during the 4th quarter. XML Financial LLC now owns 1,596,655 shares of the investment management company’s stock worth $20,597,000 after purchasing an additional 53,314 shares in the last quarter. Merrithew & Thorsten Inc acquired a new stake in Pimco Corporate & Income Opportunity Fund during the 4th quarter valued at $19,710,000. Invesco Ltd. raised its stake in Pimco Corporate & Income Opportunity Fund by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,324,697 shares of the investment management company’s stock valued at $17,089,000 after purchasing an additional 83,965 shares during the period. Finally, Rivernorth Capital Management LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund in the fourth quarter valued at $16,026,000. 10.25% of the stock is owned by hedge funds and other institutional investors.

Pimco Corporate & Income Opportunity Fund Company Profile

The Pimco Corporate & Income Opportunity Fund (NYSE: PTY) is a closed-end management investment company sponsored by Pacific Investment Management Company LLC (PIMCO). The fund’s primary objective is to provide a high level of current income, with a secondary focus on capital appreciation. It seeks to achieve these goals through investment in a diversified portfolio of corporate debt securities, loan participations and other fixed-income instruments.

PTY primarily invests in a broad range of U.S.