PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Sees Large Decrease in Short Interest

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

Institutional Investors Weigh In On PIMCO Corporate & Income Opportunity Fund

Several large investors have recently added to or reduced their stakes in PTY. Sheaff Brock Investment Advisors LLC increased its stake in 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 worth $417,000 after acquiring an additional 6,000 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of PIMCO Corporate & Income Opportunity Fund by 25.5% during the fourth quarter. D.A. Davidson & CO. now owns 36,706 shares of the investment management company’s stock valued at $486,000 after buying an additional 7,456 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of PIMCO Corporate & Income Opportunity Fund by 7.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 367,766 shares of the investment management company’s stock valued at $4,869,000 after buying an additional 24,982 shares during the period. Parallel Advisors LLC boosted its position in shares of PIMCO Corporate & Income Opportunity Fund by 25.5% during the fourth quarter. Parallel Advisors LLC now owns 93,459 shares of the investment management company’s stock valued at $1,237,000 after buying an additional 19,007 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of PIMCO Corporate & Income Opportunity Fund during the fourth quarter valued at approximately $1,856,000. 10.25% of the stock is owned by institutional investors.

PIMCO Corporate & Income Opportunity Fund Price Performance

NYSE PTY remained flat at $14.23 during trading hours on Monday. The company’s stock had a trading volume of 526,782 shares, compared to its average volume of 583,162. The stock has a 50 day moving average price of $14.26 and a 200-day moving average price of $14.33. PIMCO Corporate & Income Opportunity Fund has a 52 week low of $11.92 and a 52 week high of $15.10.

PIMCO Corporate & Income Opportunity Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.1188 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.43 annualized dividend and a yield of 10.02%.

PIMCO Corporate & Income Opportunity Fund Company Profile

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.