Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Strong Trading Volume – Should You Buy?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) shares saw unusually-strong trading volume on Monday . Approximately 1,901,275 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,176,106 shares.The stock last traded at $11.2350 and had previously closed at $11.43.

Pimco Corporate & Income Opportunity Fund Stock Performance

The firm has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $11.97.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm 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 dividend of $0.1188 per share. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%.

Hedge Funds Weigh In On Pimco Corporate & Income Opportunity Fund

Institutional investors have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC purchased a new stake in Pimco Corporate & Income Opportunity Fund in the 4th quarter valued at $27,000. GHP Investment Advisors Inc. purchased a new position in Pimco Corporate & Income Opportunity Fund during the 1st quarter worth $32,000. Continuum Advisory LLC purchased a new position in Pimco Corporate & Income Opportunity Fund during the 2nd quarter worth $37,000. Garton & Associates Financial Advisors LLC acquired a new position in Pimco Corporate & Income Opportunity Fund in the fourth quarter valued at $42,000. Finally, Ameritas Advisory Services LLC acquired a new position in Pimco Corporate & Income Opportunity Fund in the second quarter valued at $75,000. 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-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.