Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Passes Below 200 Day Moving Average – Here’s Why

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.69 and traded as low as $3.59. Western Asset High Income Opportunity Fund shares last traded at $3.6050, with a volume of 386,618 shares.

Western Asset High Income Opportunity Fund Stock Performance

The stock has a 50 day simple moving average of $3.64 and a 200 day simple moving average of $3.69.

Western Asset High Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a dividend of $0.0355 per share. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Laurel Oak Wealth Management LLC acquired a new position in Western Asset High Income Opportunity Fund in the fourth quarter valued at about $40,000. PNC Financial Services Group Inc. grew its stake in Western Asset High Income Opportunity Fund by 84.7% during the third quarter. PNC Financial Services Group Inc. now owns 10,900 shares of the closed-end fund’s stock worth $42,000 after buying an additional 5,000 shares in the last quarter. One Capital Management LLC acquired a new stake in Western Asset High Income Opportunity Fund during the fourth quarter worth about $43,000. Geneos Wealth Management Inc. increased its holdings in Western Asset High Income Opportunity Fund by 807.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 11,721 shares of the closed-end fund’s stock valued at $47,000 after buying an additional 10,429 shares during the period. Finally, Citadel Advisors LLC bought a new position in Western Asset High Income Opportunity Fund in the 3rd quarter valued at about $47,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc (NYSE: HIO) is a diversified closed-end management investment company that seeks to provide high current income and capital appreciation by investing primarily in high-yield and other fixed-income securities. The Fund’s portfolio is actively managed by Western Asset Management Company, an affiliate of Franklin Templeton, and may include below-investment-grade corporate debt, emerging-market sovereign and corporate bonds, bank loans, mortgage- and asset-backed securities.