PIMCO Corporate & Income Opportunity Fund (NYSE:PTY) Sees 21.2% Increase in Short Interest in January

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

Recent Activity by Institutional Investors

Several institutional investors have made adjustments to their holdings in PIMCO Corporate & Income Opportunity Fund. In the third quarter, Creative Planning increased its investment by 11.1%, now owning 20,227 shares valued at $291,000 after acquiring an additional 2,022 shares. Integrity Financial Corp WA raised its stake by 4.7%, holding 31,244 shares now worth $450,000 after purchasing 1,395 more shares. Private Advisor Group LLC boosted its holdings by 16.0%, owning 410,507 shares valued at $5,907,000 after adding 56,620 shares to its total. Additionally, TPG Advisors LLC increased its investments by 47.9%, now owning 18,373 shares worth $264,000 after acquiring 5,950 shares. Farther Finance Advisors LLC also entered the fray by purchasing a new stake worth approximately $39,000 in the third quarter. Overall, institutional ownership stands at 10.25% of the company’s stock.

Stock Performance Overview

On the trading front, PTY shares dipped by $0.03 on Friday, settling at $14.70 with 520,424 shares traded, slightly below the average volume of 656,816 shares. Over the past year, the stock has recorded a low of $13.23 and a high of $15.10. The fifty-day and the 200-day simple moving averages are currently at $14.53 and $14.47, respectively.

Upcoming Dividend Payment

The fund recently announced a monthly dividend scheduled for payment on Monday, March 3rd. Shareholders who are on record by Thursday, February 13th, will receive a dividend of $0.1188 per share. The ex-dividend date is also set for February 13th. This corresponds to an annualized dividend of $1.43, providing a yield of 9.70%.

About the Fund

PIMCO Corporate & Income Opportunity Fund is a closed-end fixed income mutual fund that is managed by Allianz Global Investors Fund Management LLC and co-managed by Pacific Investment Management Company LLC. The fund primarily invests in global fixed income markets, focusing on corporate debt obligations that are rated within the lowest investment-grade category (Baa or BBB) and those in the highest non-investment-grade category (Ba or BB).

PIMCO, Investment, Funds