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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $3.54 and traded as low as $3.26. Western Asset High Income Opportunity Fund shares last traded at $3.2750, with a volume of 833,746 shares changing hands.

Western Asset High Income Opportunity Fund Stock Down 1.4%

The firm’s fifty day simple moving average is $3.38 and its 200 day simple moving average is $3.54.

Western Asset High Income Opportunity Fund (NYSE:HIO) last released its earnings results 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. Shareholders of record on Friday, November 20th will be given a $0.0355 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 13.3%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Eclectic Associates Inc. ADV acquired a new position in Western Asset High Income Opportunity Fund during the 3rd quarter valued at $46,000. Private Advisor Group LLC acquired a new position in shares of Western Asset High Income Opportunity Fund in the first quarter valued at $60,000. First Nebraska Trust Co acquired a new stake in Western Asset High Income Opportunity Fund during the first quarter worth $80,000. Fifth Third Bancorp acquired a new stake in shares of Western Asset High Income Opportunity Fund during the 1st quarter valued at about $83,000. Finally, Wedbush Securities Inc. grew its stake in shares of Western Asset High Income Opportunity Fund by 84.0% in the 2nd quarter. Wedbush Securities Inc. now owns 21,793 shares of the closed-end fund’s stock valued at $83,000 after purchasing an additional 9,950 shares during the period.

Western Asset High Income Opportunity Fund Company Profile

Western Asset High Income Opportunity Fund (NYSE:HIO) is a closed-end investment fund that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in below-investment-grade, or high-yield, debt securities issued by corporations and other borrowers.

Its portfolio may include bonds and other fixed-income instruments issued by companies in the United States and international markets, including emerging markets.