PIMCO Income Opportunity Fund (NYSE:PKO) Trading Up 7.8%

PIMCO Income Opportunity Fund (NYSE:PKO) shares shot up 7.8% during mid-day trading on Tuesday . The company traded as high as $18.22 and last traded at $18.01, 167,600 shares changed hands during mid-day trading. An increase of 27% from the average session volume of 132,242 shares. The stock had previously closed at $16.71.

The business has a 50 day simple moving average of $25.30 and a 200-day simple moving average of $26.85.

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 11th. This represents a $2.28 annualized dividend and a dividend yield of 12.13%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. TFG Advisers LLC purchased a new stake in shares of PIMCO Income Opportunity Fund in the 4th quarter valued at approximately $194,000. FNY Investment Advisers LLC raised its position in shares of PIMCO Income Opportunity Fund by 130.7% during the 4th quarter. FNY Investment Advisers LLC now owns 8,900 shares of the financial services provider’s stock valued at $247,000 after buying an additional 5,042 shares during the period. Janney Montgomery Scott LLC lifted its holdings in PIMCO Income Opportunity Fund by 7.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 867 shares during the last quarter. Bank of America Corp DE lifted its holdings in PIMCO Income Opportunity Fund by 17.8% in the fourth quarter. Bank of America Corp DE now owns 17,697 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 2,672 shares during the last quarter. Finally, BCJ Capital Management LLC grew its position in PIMCO Income Opportunity Fund by 5.1% in the fourth quarter. BCJ Capital Management LLC now owns 19,721 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 950 shares during the period.

About PIMCO Income Opportunity Fund (NYSE:PKO)

PIMCO Income Opportunity Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in the fixed income markets across the globe. The fund invests in corporate debt, government and sovereign debt, mortgage backed and other asset-backed securities, bank loans and related instruments, convertible securities and other income-producing securities, with an average duration of 2 to 8 years.

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