Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Shares Shorted: Short Interest Up 51.2% in September

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 157,224 shares, an increase of 51.2% from the August 31st total of 104,001 shares. Based on an average daily volume of 513,364 shares, the days-to-cover ratio is currently 0.3 days.

Western Asset High Income Opportunity Fund Stock Performance

Western Asset High Income Opportunity Fund stock opened at $3.27 on Thursday. Western Asset High Income Opportunity Fund has a 1-year low of $3.24 and a 1-year high of $3.89. The firm’s fifty day simple moving average is $3.47 and its 200-day simple moving average is $3.58.

Western Asset High Income Opportunity Fund (NYSE:HIO) last issued its quarterly earnings data 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 business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.0355 per share. This represents a $0.43 annualized dividend and a dividend yield of 13.0%. The ex-dividend date is Friday, November 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HIO. Sit Investment Associates Inc. lifted its holdings in Western Asset High Income Opportunity Fund by 33.2% in the 4th quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock worth $8,293,000 after purchasing an additional 556,840 shares during the last quarter. FCA Corp TX grew its holdings in Western Asset High Income Opportunity Fund by 5.8% during the first quarter. FCA Corp TX now owns 1,206,739 shares of the closed-end fund’s stock valued at $4,380,000 after purchasing an additional 66,178 shares during the last quarter. Rareview Capital LLC raised its position in shares of Western Asset High Income Opportunity Fund by 30.7% in the second quarter. Rareview Capital LLC now owns 903,653 shares of the closed-end fund’s stock valued at $3,597,000 after purchasing an additional 212,012 shares during the period. Kanen Wealth Management LLC raised its position in shares of Western Asset High Income Opportunity Fund by 2.1% in 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, Absolute Investment Advisers LLC lifted its stake in shares of Western Asset High Income Opportunity Fund by 43.4% in the first 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 last quarter.

Western Asset High Income Opportunity Fund Company Profile

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.