PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Short Interest Down 30.8% in August

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 385,300 shares, a drop of 30.8% from the August 15th total of 556,800 shares. Based on an average daily volume of 564,200 shares, the short-interest ratio is currently 0.7 days.

PIMCO Corporate & Income Opportunity Fund Stock Performance

Shares of PTY traded up $0.05 during mid-day trading on Friday, reaching $14.22. The company had a trading volume of 539,215 shares, compared to its average volume of 583,481. PIMCO Corporate & Income Opportunity Fund has a 52 week low of $11.92 and a 52 week high of $15.10. The firm has a 50-day moving average price of $14.27 and a 200 day moving average price of $14.33.

PIMCO Corporate & Income Opportunity Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.1188 dividend. This represents a $1.43 annualized dividend and a yield of 10.03%. The ex-dividend date is Friday, September 13th.

Hedge Funds Weigh In On PIMCO Corporate & Income Opportunity Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC grew its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 23.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 31,526 shares of the investment management company’s stock valued at $417,000 after buying an additional 6,000 shares during the last quarter. D.A. Davidson & CO. lifted its position in PIMCO Corporate & Income Opportunity Fund by 25.5% in the 4th quarter. D.A. Davidson & CO. now owns 36,706 shares of the investment management company’s stock valued at $486,000 after acquiring an additional 7,456 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in PIMCO Corporate & Income Opportunity Fund by 7.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 367,766 shares of the investment management company’s stock valued at $4,869,000 after purchasing an additional 24,982 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 25.5% in the 4th quarter. Parallel Advisors LLC now owns 93,459 shares of the investment management company’s stock worth $1,237,000 after purchasing an additional 19,007 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of PIMCO Corporate & Income Opportunity Fund in the 4th quarter worth $1,856,000. 10.25% of the stock is currently owned by institutional investors.

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.