Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 1-Year Low – What’s Next?

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

Pimco Corporate & Income Opportunity Fund Trading Up 1.5%

The firm’s 50-day simple moving average is $11.37 and its 200 day simple moving average is $11.75.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be given a $0.1188 dividend. This represents a $1.43 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Tuesday, October 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PTY. Walser Wealth Management Company A Ltd Liability Co grew its holdings in shares of Pimco Corporate & Income Opportunity Fund by 16.3% in the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 161,417 shares of the investment management company’s stock valued at $1,777,000 after buying an additional 22,597 shares during the period. Covenant Asset Management LLC increased its holdings in shares of Pimco Corporate & Income Opportunity Fund by 2.7% in the third quarter. Covenant Asset Management LLC now owns 121,425 shares of the investment management company’s stock worth $1,337,000 after acquiring an additional 3,148 shares in the last quarter. Triumph Capital Management raised its position in shares of Pimco Corporate & Income Opportunity Fund by 4.7% during the third quarter. Triumph Capital Management now owns 64,483 shares of the investment management company’s stock worth $710,000 after purchasing an additional 2,877 shares during the period. Accel Wealth Management raised its position in shares of Pimco Corporate & Income Opportunity Fund by 3.4% during the third quarter. Accel Wealth Management now owns 464,191 shares of the investment management company’s stock worth $5,111,000 after purchasing an additional 15,464 shares during the period. Finally, Williams & Novak Wealth Management LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund during the 3rd quarter valued at about $327,000. Institutional investors own 10.25% of the company’s stock.

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.