PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.52 and traded as low as $14.32. PIMCO Corporate & Income Opportunity Fund shares last traded at $14.34, with a volume of 599,967 shares traded.

PIMCO Corporate & Income Opportunity Fund Price Performance

The firm’s 50-day moving average is $14.59 and its 200 day moving average is $14.52.

PIMCO Corporate & Income Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a dividend of $0.1188 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 9.94%.

Institutional Investors Weigh In On PIMCO Corporate & Income Opportunity Fund

Several institutional investors have recently bought and sold shares of PTY. Covenant Asset Management LLC lifted its position in shares of PIMCO Corporate & Income Opportunity Fund by 14.2% in the third quarter. Covenant Asset Management LLC now owns 100,736 shares of the investment management company’s stock worth $1,450,000 after purchasing an additional 12,519 shares in the last quarter. Independent Advisor Alliance bought a new stake in PIMCO Corporate & Income Opportunity Fund during the 3rd quarter worth about $153,000. Horizon Kinetics Asset Management LLC acquired a new position in shares of PIMCO Corporate & Income Opportunity Fund during the 3rd quarter worth about $164,000. Plotkin Financial Advisors LLC bought a new position in shares of PIMCO Corporate & Income Opportunity Fund in the 3rd quarter valued at about $1,708,000. Finally, HighTower Advisors LLC increased its position in shares of PIMCO Corporate & Income Opportunity Fund by 8.4% in the third quarter. HighTower Advisors LLC now owns 42,042 shares of the investment management company’s stock valued at $605,000 after acquiring an additional 3,254 shares during the last quarter. Institutional investors own 10.25% of the company’s stock.

About PIMCO Corporate & Income Opportunity Fund

PIMCO Corporate & Income Opportunity Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in corporate debt obligations rated in the lowest investment grade category Baa or BBB and in the highest non-investment grade category Ba or BB.