Western Asset High Income Opportunity Fund (NYSE:HIO) Shares Break Below 50-Day Moving Average – Should You Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $3.32 and traded as low as $3.28. Western Asset High Income Opportunity Fund shares last traded at $3.3070, with a volume of 702,365 shares traded.

Western Asset High Income Opportunity Fund Stock Down 1.1%

The company has a 50 day moving average of $3.31 and a 200 day moving average of $3.56.

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

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Rareview Capital LLC boosted its stake in Western Asset High Income Opportunity Fund by 30.7% during the 2nd quarter. Rareview Capital LLC now owns 903,653 shares of the closed-end fund’s stock valued at $3,597,000 after acquiring an additional 212,012 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Western Asset High Income Opportunity Fund in the 3rd quarter worth about $670,000. FCA Corp TX increased its position in shares of Western Asset High Income Opportunity Fund by 8.5% in the 3rd quarter. FCA Corp TX now owns 1,384,103 shares of the closed-end fund’s stock worth $4,512,000 after purchasing an additional 107,989 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Western Asset High Income Opportunity Fund by 17.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 392,201 shares of the closed-end fund’s stock worth $1,263,000 after purchasing an additional 58,513 shares during the last quarter. Finally, Sage Capital Advisors llc acquired a new stake in shares of Western Asset High Income Opportunity Fund in the 3rd quarter valued at about $172,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund (NYSE: HIO) is a closed-end investment fund managed by Western Asset Management Company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. HIO invests primarily in below-investment-grade corporate bonds and other high-yield debt securities. Its portfolio may include debt issued by companies and governments in the United States and international markets, with investments selected based on credit quality, income potential, and market conditions.