Could PIMCO Corporate&Income Opportunity Fund (PTY) Increase Even More? The Stock Formed Wedge Up

June 19, 2017 - By Dolores Ford

Investors sentiment decreased to 1.04 in Q4 2016. Its down 1.13, from 2.17 in 2016Q3. It dropped, as 9 investors sold PIMCO Corporate&Income Opportunity Fund shares while 19 reduced holdings. 7 funds opened positions while 22 raised stakes. 4.45 million shares or 11.81% less from 5.05 million shares in 2016Q3 were reported.
Raymond James Assocs, a Florida-based fund reported 25,255 shares. Oarsman Cap stated it has 0.2% of its portfolio in PIMCO Corporate&Income Opportunity Fund (NYSE:PTY). Davenport Ltd Liability Co owns 14,600 shares. Lucas Cap holds 17,700 shares. Gould Asset Management Lc Ca reported 0.17% stake. Planning Corporation, a California-based fund reported 59,145 shares. Susquehanna Intll Group Inc Llp invested in 0% or 11,267 shares. Cambridge Invest Rech invested in 0% or 12,937 shares. Atlantic Group Inc Lc holds 0% or 18,800 shares in its portfolio. Apriem has invested 0% in PIMCO Corporate&Income Opportunity Fund (NYSE:PTY). M&R Cap Mngmt reported 2,000 shares. Hollencrest Securities holds 0.12% or 57,000 shares. Commonwealth Equity holds 0.02% or 193,658 shares in its portfolio. Raymond James Svcs Advsr accumulated 0.01% or 48,648 shares. Retail Bank Of Montreal Can stated it has 0% of its portfolio in PIMCO Corporate&Income Opportunity Fund (NYSE:PTY).

The stock of PIMCO Corporate&Income Opportunity Fund (PTY) formed an up wedge with $17.63 target or 8.00 % above today’s $16.32 share price. The 6 months wedge indicates low risk for the $1.17 billion company. If the $17.63 price target is reached, the company will be worth $93.60 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

About 81,764 shares traded. PIMCO Corporate&Income Opportunity Fund (NYSE:PTY) has risen 17.96% since June 19, 2016 and is uptrending. It has outperformed by 1.26% the S&P500.

More important recent PIMCO Corporate&Income Opportunity Fund (NYSE:PTY) news were published by: Etfdailynews.com which released: “The Best Closed-End Funds To Buy Right Now” on June 17, 2017, also Seekingalpha.com published article titled: “Update To PIMCO Closed-End Funds UNII- July”, Seekingalpha.com published: “Distribution Coverage Sharply Down For Several PIMCO CEFs” on February 16, 2017. More interesting news about PIMCO Corporate&Income Opportunity Fund (NYSE:PTY) was released by: Seekingalpha.com and their article: “Pimco Corporate & Income Opportunity Fund Should Perform Well In 2015” with publication date: December 17, 2014.

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