Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Pimco Corporate & Income Opportunity Fund (NYSE:PTY)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $11.09 and traded as high as $11.17. Pimco Corporate & Income Opportunity Fund shares last traded at $11.1550, with a volume of 1,543,940 shares traded.

Pimco Corporate & Income Opportunity Fund Trading Up 0.7%

The business has a 50-day moving average price of $11.09 and a two-hundred day moving average price of $11.90.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $0.1188 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.43 annualized dividend and a dividend yield of 12.8%.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Several large investors have recently bought and sold shares of the stock. Lido Advisors LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund during the third quarter valued at about $534,000. Cornerstone Wealth Management LLC lifted its position in shares of Pimco Corporate & Income Opportunity Fund by 2.7% during the third quarter. Cornerstone Wealth Management LLC now owns 69,917 shares of the investment management company’s stock worth $770,000 after acquiring an additional 1,849 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund in the third quarter valued at approximately $299,000. International Assets Investment Management LLC grew its position in shares of Pimco Corporate & Income Opportunity Fund by 16.2% during the 3rd quarter. International Assets Investment Management LLC now owns 12,072 shares of the investment management company’s stock valued at $133,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in Pimco Corporate & Income Opportunity Fund by 10.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 456,344 shares of the investment management company’s stock worth $5,024,000 after acquiring an additional 42,885 shares during the last quarter. 10.25% of the stock is currently owned by institutional investors.

Pimco Corporate & Income Opportunity Fund Company Profile

PIMCO Corporate & Income Opportunity Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PTY. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment manager specializing in fixed-income and other asset classes.

The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. It invests primarily in a diversified portfolio of corporate debt and other income-producing securities, including investment-grade and below-investment-grade bonds.