Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Significant Growth in Short Interest

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 575,699 shares, an increase of 93.1% from the September 30th total of 298,146 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 1,757,891 shares, the days-to-cover ratio is currently 0.3 days.

Pimco Corporate & Income Opportunity Fund Price Performance

NYSE PTY traded up $0.10 during trading hours on Monday, reaching $10.82. The company’s stock had a trading volume of 1,837,109 shares, compared to its average volume of 1,281,334. The company’s 50-day moving average is $11.14 and its two-hundred day moving average is $11.93. Pimco Corporate & Income Opportunity Fund has a fifty-two week low of $10.56 and a fifty-two week high of $13.84.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be paid a dividend of $0.1188 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, October 13th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC purchased a new stake in shares of Pimco Corporate & Income Opportunity Fund during the second quarter worth about $37,000. Foresight Capital Management Advisors Inc. acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 3rd quarter worth about $36,000. Ameritas Advisory Services LLC purchased a new stake in Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at about $75,000. Global Retirement Partners LLC purchased a new stake in Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at about $106,000. Finally, CoreCap Advisors LLC increased its stake in shares of Pimco Corporate & Income Opportunity Fund by 1,000.0% during the 2nd quarter. CoreCap Advisors LLC now owns 9,900 shares of the investment management company’s stock valued at $119,000 after acquiring an additional 9,000 shares during the last quarter. 10.25% of the stock is currently owned by institutional investors and hedge funds.

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.