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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.84 and traded as low as $3.77. Western Asset High Income Opportunity Fund shares last traded at $3.78, with a volume of 426,584 shares traded.

Western Asset High Income Opportunity Fund Price Performance

The business has a 50 day simple moving average of $3.75 and a 200-day simple moving average of $3.84.

Western Asset High Income Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.0355 per share. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Friday, February 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIO. Stratos Wealth Partners LTD. lifted its position in shares of Western Asset High Income Opportunity Fund by 72.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 59,675 shares of the closed-end fund’s stock valued at $238,000 after buying an additional 25,008 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Western Asset High Income Opportunity Fund in the 2nd quarter worth about $194,000. Wolverine Asset Management LLC bought a new stake in Western Asset High Income Opportunity Fund in the 3rd quarter valued at about $1,019,000. Good Life Advisors LLC lifted its holdings in Western Asset High Income Opportunity Fund by 35.5% during the second quarter. Good Life Advisors LLC now owns 56,646 shares of the closed-end fund’s stock valued at $225,000 after purchasing an additional 14,840 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Western Asset High Income Opportunity Fund by 17.1% during the second quarter. Envestnet Asset Management Inc. now owns 126,879 shares of the closed-end fund’s stock worth $505,000 after purchasing an additional 18,547 shares during the period.

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.