KKR Income Opportunities Fund (NYSE:KIO) Stock Price Up 1.5% – Time to Buy?

KKR Income Opportunities Fund (NYSE:KIO)’s stock price shot up 1.5% during trading on Monday. The stock traded as high as $10.13 and last traded at $10.1150. 359,210 shares were traded during trading, an increase of 51% from the average daily volume of 238,673 shares. The stock had previously closed at $9.97.

KKR Income Opportunities Fund Stock Up 1.5%

The business has a fifty day moving average of $10.32 and a two-hundred day moving average of $11.00.

KKR Income Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Friday, December 11th will be issued a $0.1215 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.46 annualized dividend and a yield of 14.4%.

Insiders Place Their Bets

In other news, CFO Justin Takao purchased 2,914 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $28,353.22. Following the completion of the transaction, the chief financial officer directly owned 8,098 shares in the company, valued at $78,793.54. This represents a 56.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 12,047 shares of company stock valued at $119,290 over the last quarter.

Institutional Investors Weigh In On KKR Income Opportunities Fund

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in KKR Income Opportunities Fund during the second quarter worth about $3,919,000. Rareview Capital LLC increased its stake in shares of KKR Income Opportunities Fund by 10.1% during the 2nd quarter. Rareview Capital LLC now owns 198,863 shares of the investment management company’s stock worth $2,239,000 after purchasing an additional 18,251 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in shares of KKR Income Opportunities Fund during the 2nd quarter worth approximately $1,126,000. Cetera Investment Advisers raised its position in shares of KKR Income Opportunities Fund by 5.0% during the 1st quarter. Cetera Investment Advisers now owns 96,405 shares of the investment management company’s stock worth $1,060,000 after purchasing an additional 4,565 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of KKR Income Opportunities Fund by 19.3% during the 3rd quarter. Wedbush Securities Inc. now owns 73,443 shares of the investment management company’s stock worth $756,000 after purchasing an additional 11,869 shares during the last quarter.

About KKR Income Opportunities Fund

KKR Income Opportunities Fund (NYSE: KIO) is a non-diversified, closed-end management investment company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a portfolio of income-producing credit securities.

KIO invests primarily in below-investment-grade and unrated debt instruments, including senior secured loans, high-yield bonds, privately placed debt, structured credit and other income-oriented credit investments.