Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s stock price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $3.60 and traded as low as $3.40. Western Asset High Income Opportunity Fund shares last traded at $3.4050, with a volume of 507,760 shares trading hands.

Western Asset High Income Opportunity Fund Price Performance

The stock’s 50 day moving average price is $3.51 and its two-hundred day moving average price is $3.59.

Western Asset High Income Opportunity Fund (NYSE:HIO) last posted its earnings results on Thursday, August 20th. The closed-end fund reported $0.08 earnings per share (EPS) for the quarter.

Western Asset High Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.0355 dividend. This represents a $0.43 annualized dividend and a dividend yield of 13.0%. The ex-dividend date of this dividend is Friday, November 20th.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

A number of institutional investors have recently made changes to their positions in HIO. Sit Investment Associates Inc. boosted its stake in Western Asset High Income Opportunity Fund by 33.2% during the 4th quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock valued at $8,293,000 after purchasing an additional 556,840 shares during the period. Rareview Capital LLC increased its position in Western Asset High Income Opportunity Fund by 30.7% in the 2nd quarter. Rareview Capital LLC now owns 903,653 shares of the closed-end fund’s stock worth $3,597,000 after buying an additional 212,012 shares during the period. Absolute Investment Advisers LLC increased its position in Western Asset High Income Opportunity Fund by 43.4% in the 1st quarter. Absolute Investment Advisers LLC now owns 469,158 shares of the closed-end fund’s stock worth $1,703,000 after buying an additional 141,927 shares during the period. RFG Advisory LLC lifted its holdings in shares of Western Asset High Income Opportunity Fund by 58.8% during the first quarter. RFG Advisory LLC now owns 287,063 shares of the closed-end fund’s stock worth $1,042,000 after buying an additional 106,280 shares during the last quarter. Finally, First Nebraska Trust Co acquired a new position in shares of Western Asset High Income Opportunity Fund during the first quarter worth approximately $80,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc is a closed-end investment company listed on the New York Stock Exchange under the ticker HIO. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in fixed-income securities.

The fund generally focuses on below-investment-grade corporate bonds and other high-yield debt securities. Its portfolio may also include loans, emerging-market debt and other income-producing instruments, allowing it to invest across multiple sectors and geographic regions while emphasizing credit markets with higher income potential.

HIO is managed by Western Asset Management Company, a global fixed-income investment manager and a subsidiary of Franklin Resources, Inc Western Asset has roots dating to 1971 and manages portfolios for institutional and individual investors worldwide.