Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 12-Month Low – Time to Sell?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $10.65 and last traded at $10.6940, with a volume of 327,421 shares trading hands. The stock had previously closed at $10.75.

Pimco Corporate & Income Opportunity Fund Stock Performance

The firm’s 50-day simple moving average is $11.42 and its two-hundred day simple moving average is $11.76.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.1188 per share. The ex-dividend date is Tuesday, October 13th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 13.4%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Pimco Corporate & Income Opportunity Fund in the second quarter worth $32,763,000. XML Financial LLC raised its holdings in shares of Pimco Corporate & Income Opportunity Fund by 10.3% during the second quarter. XML Financial LLC now owns 1,754,583 shares of the investment management company’s stock worth $21,108,000 after acquiring an additional 163,536 shares in the last quarter. Cetera Investment Advisers boosted its position in Pimco Corporate & Income Opportunity Fund by 3.0% during the first quarter. Cetera Investment Advisers now owns 1,153,947 shares of the investment management company’s stock valued at $13,917,000 after purchasing an additional 33,527 shares during the last quarter. Royal Bank of Canada boosted its position in Pimco Corporate & Income Opportunity Fund by 2.8% during the first quarter. Royal Bank of Canada now owns 600,310 shares of the investment management company’s stock valued at $7,240,000 after purchasing an additional 16,237 shares during the last quarter. Finally, Equitable Holdings Inc. acquired a new stake in Pimco Corporate & Income Opportunity Fund during the second quarter valued at $6,654,000. 10.25% of the stock is owned by institutional investors and hedge funds.

About Pimco Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO), a global investment manager. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in corporate debt obligations and other income-producing securities. Its portfolio may include investment-grade and below-investment-grade securities, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments.