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

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 373,400 shares, a drop of 22.6% from the November 15th total of 482,300 shares. Based on an average daily trading volume, of 597,100 shares, the short-interest ratio is currently 0.6 days.

PIMCO Corporate & Income Opportunity Fund Stock Down 0.1 %

Shares of NYSE:PTY traded down $0.01 during trading on Friday, hitting $14.54. 529,847 shares of the company were exchanged, compared to its average volume of 587,216. The firm’s 50 day moving average price is $14.59 and its 200-day moving average price is $14.41. PIMCO Corporate & Income Opportunity Fund has a 12-month low of $13.06 and a 12-month high of $15.10.

PIMCO Corporate & Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be issued a $0.1188 dividend. This represents a $1.43 annualized dividend and a dividend yield of 9.80%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PTY. XML Financial LLC raised its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 7.1% in the third quarter. XML Financial LLC now owns 1,402,406 shares of the investment management company’s stock valued at $20,181,000 after buying an additional 92,709 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in PIMCO Corporate & Income Opportunity Fund by 11.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 1,092,233 shares of the investment management company’s stock worth $15,630,000 after acquiring an additional 113,583 shares during the period. Cetera Investment Advisers lifted its position in PIMCO Corporate & Income Opportunity Fund by 7.0% during the 2nd quarter. Cetera Investment Advisers now owns 854,575 shares of the investment management company’s stock worth $12,229,000 after acquiring an additional 56,011 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of PIMCO Corporate & Income Opportunity Fund by 27.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 716,571 shares of the investment management company’s stock valued at $10,254,000 after purchasing an additional 152,443 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of PIMCO Corporate & Income Opportunity Fund by 81.3% in the second quarter. Envestnet Asset Management Inc. now owns 527,690 shares of the investment management company’s stock valued at $7,551,000 after purchasing an additional 236,616 shares during the period. Institutional investors and hedge funds own 10.25% of the company’s stock.

About PIMCO Corporate & Income Opportunity Fund

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.