Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Sees Large Increase in Short Interest

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 277,780 shares, a growth of 34.5% from the March 15th total of 206,458 shares. Based on an average daily trading volume, of 373,297 shares, the days-to-cover ratio is presently 0.7 days.

Western Asset High Income Opportunity Fund Price Performance

Shares of HIO traded up $0.03 during mid-day trading on Friday, hitting $3.75. The company’s stock had a trading volume of 169,686 shares, compared to its average volume of 399,327. Western Asset High Income Opportunity Fund has a 52-week low of $3.52 and a 52-week high of $4.05. The company’s 50-day moving average is $3.71 and its 200-day moving average is $3.75.

Western Asset High Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.0355 per share. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Western Asset High Income Opportunity Fund by 504.8% during the third quarter. Farther Finance Advisors LLC now owns 7,584 shares of the closed-end fund’s stock worth $29,000 after purchasing an additional 6,330 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Western Asset High Income Opportunity Fund by 84.7% in the third quarter. PNC Financial Services Group Inc. now owns 10,900 shares of the closed-end fund’s stock valued at $42,000 after buying an additional 5,000 shares in the last quarter. Laurel Oak Wealth Management LLC acquired a new position in Western Asset High Income Opportunity Fund during the fourth quarter worth $40,000. One Capital Management LLC purchased a new position in Western Asset High Income Opportunity Fund in the fourth quarter worth $43,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Western Asset High Income Opportunity Fund by 807.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 11,721 shares of the closed-end fund’s stock worth $47,000 after purchasing an additional 10,429 shares in the last quarter.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc (NYSE: HIO) is a diversified closed-end management investment company that seeks to provide high current income and capital appreciation by investing primarily in high-yield and other fixed-income securities. The Fund’s portfolio is actively managed by Western Asset Management Company, an affiliate of Franklin Templeton, and may include below-investment-grade corporate debt, emerging-market sovereign and corporate bonds, bank loans, mortgage- and asset-backed securities.