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

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

Western Asset High Income Opportunity Fund Price Performance

Shares of NYSE:HIO traded up $0.03 during midday trading on Friday, hitting $3.29. 23,979 shares of the stock were exchanged, compared to its average volume of 390,917. Western Asset High Income Opportunity Fund has a 52-week low of $3.24 and a 52-week high of $3.89. The business’s fifty day simple moving average is $3.47 and its two-hundred day simple moving average is $3.58.

Western Asset High Income Opportunity Fund (NYSE:HIO) last announced its quarterly earnings results on Thursday, August 20th. The closed-end fund reported $0.08 EPS for the quarter.

Western Asset High Income Opportunity Fund Dividend Announcement

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

Institutional Investors Weigh In On Western Asset High Income Opportunity Fund

Institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. grew its stake in Western Asset High Income Opportunity Fund by 33.2% in the fourth quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock valued at $8,293,000 after purchasing an additional 556,840 shares in the last quarter. FCA Corp TX lifted its position in Western Asset High Income Opportunity Fund by 5.8% in the 1st quarter. FCA Corp TX now owns 1,206,739 shares of the closed-end fund’s stock valued at $4,380,000 after acquiring an additional 66,178 shares in the last quarter. Rareview Capital LLC increased its holdings in Western Asset High Income Opportunity Fund by 30.7% during the second quarter. Rareview Capital LLC now owns 903,653 shares of the closed-end fund’s stock worth $3,597,000 after buying an additional 212,012 shares during the last quarter. Kanen Wealth Management LLC boosted its stake in Western Asset High Income Opportunity Fund by 2.1% in the 1st quarter. Kanen Wealth Management LLC now owns 490,454 shares of the closed-end fund’s stock worth $1,780,000 after purchasing an additional 10,000 shares during the period. Finally, Absolute Investment Advisers LLC grew its position in Western Asset High Income Opportunity Fund by 43.4% in the 1st quarter. Absolute Investment Advisers LLC now owns 469,158 shares of the closed-end fund’s stock worth $1,703,000 after purchasing an additional 141,927 shares during the period.

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.