Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sets New 52-Week Low – Here’s Why

Shares of Pimco Corporate & Income Opportunity Fund (NYSE:PTY) hit a new 52-week low on Friday . The company traded as low as $11.68 and last traded at $11.69, with a volume of 163668 shares trading hands. The stock had previously closed at $11.77.

Pimco Corporate & Income Opportunity Fund Trading Down 0.6%

The firm’s 50 day moving average is $12.69 and its two-hundred day moving average is $13.27.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.1188 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTY. Aspect Partners LLC acquired a new position in Pimco Corporate & Income Opportunity Fund during the 3rd quarter worth $25,000. Eastern Bank acquired a new stake in Pimco Corporate & Income Opportunity Fund in the 3rd quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Pimco Corporate & Income Opportunity Fund in the 4th quarter valued at about $27,000. CX Institutional acquired a new position in shares of Pimco Corporate & Income Opportunity Fund during the third quarter worth about $32,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Pimco Corporate & Income Opportunity Fund during the fourth quarter worth about $42,000. 10.25% of the stock is currently owned by hedge funds and other 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.