PIMCO Corporate & Income Opportunity Fund (NYSE:PTY – Get Rating) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 585,000 shares, a growth of 54.8% from the April 30th total of 377,900 shares. Based on an average daily volume of 478,400 shares, the days-to-cover ratio is currently 1.2 days.
PTY traded up $0.17 during trading on Friday, hitting $14.47. 342,864 shares of the stock were exchanged, compared to its average volume of 439,866. The firm has a 50 day simple moving average of $14.64 and a 200 day simple moving average of $15.68. PIMCO Corporate & Income Opportunity Fund has a 1 year low of $13.34 and a 1 year high of $21.66.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Thursday, May 12th will be issued a dividend of $0.119 per share. This is an increase from PIMCO Corporate & Income Opportunity Fund’s previous monthly dividend of $0.12. This represents a $1.43 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Wednesday, May 11th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. AllSquare Wealth Management LLC boosted its position in PIMCO Corporate & Income Opportunity Fund by 142.9% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,700 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. Versant Capital Management Inc bought a new stake in PIMCO Corporate & Income Opportunity Fund during the 4th quarter valued at $41,000. Prospera Financial Services Inc bought a new stake in PIMCO Corporate & Income Opportunity Fund during the 1st quarter valued at $43,000. FNY Investment Advisers LLC bought a new stake in PIMCO Corporate & Income Opportunity Fund during the 1st quarter valued at $49,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of PIMCO Corporate & Income Opportunity Fund in the 3rd quarter worth $51,000. 8.62% of the stock is currently owned by institutional investors and hedge funds.
PIMCO Corporate & Income Opportunity Fund Company Profile (Get Rating)
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.
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