P1330 is a generic OBDII trouble code. P1330 indicates your Volvo's CVVT if experiencing trouble. The trouble might stem from a defective CVVT solenoid/valve or CVVT Actuator Hub. CVVT stands for Camshaft Variable Valve Timing. P1330 relates to the solenoid which controls the CVVT. It is not uncommon for sludge building up in the CVVT valve/solenoid. Your Volvo's CVVT is located on the valve cover by the exhaust cam sprocket.
We recommend changing your Volvo's oil (if you have not done so in the last 10,000 miles) and clearing the P1330 trouble code (using a trouble code scanner) to see if the trouble code returns. If your Volvo's CVVT valve is not defective, changing the oil might allow it to begin functioning properly again.