Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.58 and traded as low as $3.26. Western Asset High Income Opportunity Fund shares last traded at $3.3150, with a volume of 474,301 shares changing hands.

Western Asset High Income Opportunity Fund Price Performance

The business has a 50-day simple moving average of $3.47 and a two-hundred day simple moving average of $3.58.

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 for the quarter.

Western Asset High Income Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0355 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.43 annualized dividend and a dividend yield of 12.9%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HIO. Concurrent Investment Advisors LLC raised its position in shares of Western Asset High Income Opportunity Fund by 5.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 52,351 shares of the closed-end fund’s stock valued at $191,000 after acquiring an additional 2,863 shares during the last quarter. NWF Advisory Services Inc. increased its stake in shares of Western Asset High Income Opportunity Fund by 13.0% in the 2nd quarter. NWF Advisory Services Inc. now owns 64,333 shares of the closed-end fund’s stock valued at $234,000 after acquiring an additional 7,412 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Western Asset High Income Opportunity Fund by 84.0% during the 2nd quarter. Wedbush Securities Inc. now owns 21,793 shares of the closed-end fund’s stock worth $83,000 after acquiring an additional 9,950 shares during the last quarter. Kanen Wealth Management LLC grew its holdings in Western Asset High Income Opportunity Fund by 2.1% during the first quarter. Kanen Wealth Management LLC now owns 490,454 shares of the closed-end fund’s stock valued at $1,780,000 after purchasing an additional 10,000 shares during the period. Finally, Cetera Investment Advisers increased its stake in Western Asset High Income Opportunity Fund by 11.4% in the first quarter. Cetera Investment Advisers now owns 109,681 shares of the closed-end fund’s stock valued at $398,000 after purchasing an additional 11,268 shares in the last quarter.

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.