Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.91 and traded as low as $13.55. Pimco Corporate & Income Opportunity Fund shares last traded at $13.6450, with a volume of 1,345,164 shares changing hands.

Pimco Corporate & Income Opportunity Fund Price Performance

The firm has a 50-day simple moving average of $14.22 and a two-hundred day simple moving average of $13.91.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Tuesday, October 14th will be given a $0.1188 dividend. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Tuesday, October 14th.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Several institutional investors have recently bought and sold shares of the company. NBT Bank N A NY grew its position in Pimco Corporate & Income Opportunity Fund by 11.3% in the 3rd quarter. NBT Bank N A NY now owns 98,400 shares of the investment management company’s stock valued at $1,421,000 after acquiring an additional 10,000 shares in the last quarter. Eastern Bank purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 3rd quarter valued at about $26,000. Zullo Investment Group Inc. boosted its stake in shares of Pimco Corporate & Income Opportunity Fund by 3.0% in the 3rd quarter. Zullo Investment Group Inc. now owns 160,378 shares of the investment management company’s stock valued at $2,316,000 after buying an additional 4,700 shares during the period. CX Institutional purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 3rd quarter valued at about $32,000. Finally, Gries Financial LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 3rd quarter valued at about $248,000. 10.25% of the stock is owned by institutional investors and hedge funds.

Pimco Corporate & Income Opportunity Fund Company Profile

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.