Western Asset High Income Opportunity Fund (NYSE:HIO) Shares Cross Below 200 Day Moving Average – Time to Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.69 and traded as low as $3.59. Western Asset High Income Opportunity Fund shares last traded at $3.6050, with a volume of 386,618 shares traded.

Western Asset High Income Opportunity Fund Stock Performance

The firm has a 50-day moving average of $3.64 and a 200 day moving average of $3.69.

Western Asset High Income Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.0355 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 11.8%.

Institutional Investors Weigh In On Western Asset High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in HIO. Sit Investment Associates Inc. increased its position in shares of Western Asset High Income Opportunity Fund by 33.2% during the fourth quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock worth $8,293,000 after acquiring an additional 556,840 shares in the last quarter. Invesco Ltd. increased its position in shares of Western Asset High Income Opportunity Fund by 19.7% during the fourth quarter. Invesco Ltd. now owns 1,220,952 shares of the closed-end fund’s stock valued at $4,530,000 after acquiring an additional 201,345 shares during the last quarter. FCA Corp TX raised its stake in shares of Western Asset High Income Opportunity Fund by 5.8% during the 1st quarter. FCA Corp TX now owns 1,206,739 shares of the closed-end fund’s stock worth $4,380,000 after purchasing an additional 66,178 shares during the period. Wells Fargo & Company MN raised its position in Western Asset High Income Opportunity Fund by 13.5% in the fourth quarter. Wells Fargo & Company MN now owns 776,289 shares of the closed-end fund’s stock worth $2,880,000 after acquiring an additional 92,096 shares during the period. Finally, UBS Group AG lifted its stake in Western Asset High Income Opportunity Fund by 59.7% in the third quarter. UBS Group AG now owns 753,190 shares of the closed-end fund’s stock valued at $2,892,000 after purchasing an additional 281,615 shares during 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.