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

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 758,293 shares, a growth of 46.3% from the August 31st total of 518,318 shares. Based on an average daily trading volume, of 1,556,459 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the company’s stock are short sold.

Pimco Corporate & Income Opportunity Fund Stock Up 0.9%

Pimco Corporate & Income Opportunity Fund stock traded up $0.10 during midday trading on Friday, hitting $11.11. The stock had a trading volume of 938,613 shares, compared to its average volume of 1,253,732. The business has a fifty day moving average price of $11.55 and a 200 day moving average price of $11.83. Pimco Corporate & Income Opportunity Fund has a 12 month low of $10.65 and a 12 month high of $14.69.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a $0.1188 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.43 annualized dividend and a yield of 12.8%.

Institutional Trading of Pimco Corporate & Income Opportunity Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PTY. Northwestern Mutual Wealth Management Co. acquired a new position in Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $32,763,000. XML Financial LLC boosted its position in 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 purchasing an additional 163,536 shares during the period. Cetera Investment Advisers lifted its position in Pimco Corporate & Income Opportunity Fund by 3.0% during the 1st quarter. Cetera Investment Advisers now owns 1,153,947 shares of the investment management company’s stock worth $13,917,000 after acquiring an additional 33,527 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 worth $7,240,000 after buying an additional 16,237 shares during the last quarter. Finally, Equitable Holdings Inc. acquired a new position in shares of Pimco Corporate & Income Opportunity Fund during the second quarter valued at about $6,654,000. 10.25% of the stock is currently owned by institutional investors.

Pimco Corporate & Income Opportunity Fund Company Profile

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.