Western Asset Mortgage Opportunity Fund (NYSE:DMO) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.97 and traded as low as $10.57. Western Asset Mortgage Opportunity Fund shares last traded at $10.6050, with a volume of 24,836 shares changing hands.

Western Asset Mortgage Opportunity Fund Price Performance

The business’s 50-day moving average is $10.86 and its 200 day moving average is $10.97.

Western Asset Mortgage Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Mortgage Opportunity Fund

Several institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in Western Asset Mortgage Opportunity Fund during the 1st quarter worth approximately $114,000. Noble Wealth Management PBC lifted its position in Western Asset Mortgage Opportunity Fund by 351.9% in the fourth quarter. Noble Wealth Management PBC now owns 13,897 shares of the investment management company’s stock valued at $154,000 after purchasing an additional 10,822 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Western Asset Mortgage Opportunity Fund by 18.6% during the second quarter. Bank of America Corp DE now owns 15,490 shares of the investment management company’s stock valued at $185,000 after purchasing an additional 2,424 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Western Asset Mortgage Opportunity Fund by 171.9% in the second quarter. CoreCap Advisors LLC now owns 17,400 shares of the investment management company’s stock worth $186,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Marex Group plc bought a new position in shares of Western Asset Mortgage Opportunity Fund in the fourth quarter worth approximately $189,000.

About Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund, Inc (NYSE: DMO) is a closed‐end management investment company that seeks to provide a high level of current income, with capital preservation as a secondary objective. The fund pursues these goals by allocating its assets among a diversified portfolio of mortgage‐related securities.

The fund’s core investments include agency and non‐agency residential mortgage‐backed securities (MBS), commercial mortgage‐backed securities (CMBS) and asset‐backed securities (ABS) secured by pools of auto loans, credit card receivables, home equity loans and other consumer debt obligations.