Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Hits New 52-Week Low – Should You Sell?

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) hit a new 52-week low during trading on Friday . The company traded as low as $11.50 and last traded at $11.53, with a volume of 46334 shares trading hands. The stock had previously closed at $11.60.

Pimco Corporate & Income Opportunity Fund Stock Down 0.8%

The stock’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $11.99.

Pimco Corporate & Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.1188 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a yield of 12.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Pimco Corporate & Income Opportunity Fund by 0.8% during the 1st quarter. Royal Bank of Canada now owns 272,394 shares of the investment management company’s stock worth $3,939,000 after acquiring an additional 2,256 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the first quarter worth $209,000. NewEdge Advisors LLC increased its stake in shares of Pimco Corporate & Income Opportunity Fund by 2.5% in the first quarter. NewEdge Advisors LLC now owns 88,471 shares of the investment management company’s stock worth $1,279,000 after buying an additional 2,164 shares during the period. Jane Street Group LLC bought a new stake in Pimco Corporate & Income Opportunity Fund during the 1st quarter valued at $472,000. Finally, Invesco Ltd. bought a new stake in Pimco Corporate & Income Opportunity Fund during the 2nd quarter valued at $16,400,000. 10.25% of the stock is owned by institutional investors.

About Pimco Corporate & Income Opportunity Fund

The Pimco Corporate & Income Opportunity Fund (NYSE: PTY) is a closed-end management investment company sponsored by Pacific Investment Management Company LLC (PIMCO). The fund’s primary objective is to provide a high level of current income, with a secondary focus on capital appreciation. It seeks to achieve these goals through investment in a diversified portfolio of corporate debt securities, loan participations and other fixed-income instruments.

PTY primarily invests in a broad range of U.S.