Pimco Corporate & Income Opportunity Fund (NYSE:PTY) Sees Significant Decline in Short Interest

Pimco Corporate & Income Opportunity Fund (NYSE:PTY) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 118,624 shares, a drop of 48.3% from the May 14th total of 229,621 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 961,593 shares, the short-interest ratio is presently 0.1 days.

Pimco Corporate & Income Opportunity Fund Stock Up 0.8%

PTY stock opened at $11.83 on Tuesday. Pimco Corporate & Income Opportunity Fund has a 12 month low of $11.58 and a 12 month high of $14.69. The firm’s 50-day moving average is $12.02 and its 200 day moving average is $12.53.

Pimco Corporate & Income Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be paid a $0.1188 dividend. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PTY. Royal Bank of Canada increased 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 valued at $3,939,000 after purchasing an additional 2,256 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Pimco Corporate & Income Opportunity Fund during the 1st quarter valued at about $209,000. NewEdge Advisors LLC increased its position in Pimco Corporate & Income Opportunity Fund by 2.5% during the 1st quarter. NewEdge Advisors LLC now owns 88,471 shares of the investment management company’s stock valued at $1,279,000 after purchasing an additional 2,164 shares during the period. Jane Street Group LLC purchased a new position in Pimco Corporate & Income Opportunity Fund during the 1st quarter valued at about $472,000. Finally, Invesco Ltd. purchased a new position in Pimco Corporate & Income Opportunity Fund during the 2nd quarter valued at about $16,400,000. Hedge funds and other institutional investors own 10.25% of the company’s stock.

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.