PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Sees Significant Increase in Short Interest

PIMCO Corporate & Income Opportunity Fund (NYSE:PTY - Get Free Report) experienced a notable rise in short interest during January. As of January 31st, the total short interest reached 393,200 shares, reflecting a 21.2% increase from the prior total of 324,400 shares reported on January 15th. With an average daily trading volume of 633,900 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investment Activity

Recent transactions by institutional investors have influenced the Fund's stock significantly. Creative Planning increased its holdings in PIMCO Corporate & Income Opportunity Fund by 11.1% during the third quarter, now owning 20,227 shares valued at $291,000 after purchasing an additional 2,022 shares. Similarly, Integrity Financial Corp WA raised its stakes by 4.7%, bringing its total to 31,244 shares worth $450,000 following the addition of 1,395 shares.

In a larger move, Private Advisor Group LLC augmented its position by 16.0% in the same quarter, now holding 410,507 shares valued at about $5,907,000 after buying an extra 56,620 shares. TPG Advisors LLC also increased its holdings significantly by 47.9%, possessing now 18,373 shares worth $264,000 after acquiring 5,950 additional shares. Lastly, Farther Finance Advisors LLC invested in the Fund for the first time, buying shares valued at roughly $39,000. Overall, institutional investors own approximately 10.25% of the company's stock.

PIMCO Corporate & Income Opportunity Fund's Market Performance

On a recent trading day, PTY stock saw a minor decline of $0.03, closing at $14.70 with 520,424 shares trading hands, which is below its average volume of 656,816 shares. The stock's 52-week low has been recorded at $13.23, while its high sits at $15.10. The fifty-day simple moving average is $14.53, and the 200-day simple moving average stands at $14.47.

Recent Dividend Announcement

The Fund has announced a monthly dividend of $0.1188 per share, scheduled to be paid on Monday, March 3rd. Shareholders holding shares on record as of Thursday, February 13th, will receive this dividend, with the ex-dividend date also set for February 13th. This dividend results in an annualized yield of 9.70%, totaling $1.43 per share.

About PIMCO Corporate & Income Opportunity Fund

The PIMCO Corporate & Income Opportunity Fund is a closed-end fixed income mutual fund managed by Allianz Global Investors Fund Management LLC in conjunction with Pacific Investment Management Company LLC. The fund primarily invests in global fixed income markets, focusing on corporate debt obligations rated within the lower investment grade category Baa or BBB, as well as in the highest non-investment grade category Ba or BB.

Conclusion

In summary, the PIMCO Corporate & Income Opportunity Fund has seen substantial changes in short interest and institutional holdings, along with a recent performance check on stock trading patterns and dividend announcements. These indicators can help investors gauge market sentiment and make informed decisions regarding their investments in the fund.

PIMCO, Stocks, Investments