Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Reaches New 52-Week Low – Time to Sell?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY)’s share price hit a new 52-week low during trading on Monday. The company traded as low as $10.65 and last traded at $10.6650, with a volume of 636837 shares trading hands. The stock had previously closed at $10.93.

Pimco Corporate & Income Opportunity Fund Stock Down 1.6%

The business has a 50 day moving average of $11.61 and a 200 day moving average of $11.86.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $0.1188 dividend. This represents a $1.43 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. purchased a new stake in Pimco Corporate & Income Opportunity Fund in the first quarter worth about $32,000. Continuum Advisory LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $37,000. Ameritas Advisory Services LLC bought a new position in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter worth approximately $75,000. Global Retirement Partners LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 2nd quarter valued at approximately $106,000. Finally, CoreCap Advisors LLC boosted its position in shares of Pimco Corporate & Income Opportunity Fund by 1,000.0% during the second quarter. CoreCap Advisors LLC now owns 9,900 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 10.25% of the company’s stock.

Pimco Corporate & Income Opportunity Fund Company Profile

PIMCO Corporate & Income Opportunity Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol PTY. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment manager specializing in fixed income and related asset classes.

The fund’s primary investment objective is to provide high current income, with capital appreciation as a secondary objective. It invests in a diversified portfolio of corporate debt and other income-producing securities, which may include investment-grade and below-investment-grade bonds, bank loans, preferred securities and other fixed-income instruments.