Western Asset Mortgage Opportunity Fund (NYSE:DMO) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Shares of Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.93 and traded as low as $10.38. Western Asset Mortgage Opportunity Fund shares last traded at $10.4150, with a volume of 38,100 shares.

Western Asset Mortgage Opportunity Fund Trading Down 0.3%

The firm’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $10.93.

Western Asset Mortgage Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 13.8%.

Hedge Funds Weigh In On Western Asset Mortgage Opportunity Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in Western Asset Mortgage Opportunity Fund during the first quarter valued at $114,000. Bank of America Corp DE increased its position in shares of Western Asset Mortgage Opportunity Fund by 18.6% during the 2nd 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 last quarter. Marex Group plc bought a new position in shares of Western Asset Mortgage Opportunity Fund in the 4th quarter worth approximately $189,000. CoreCap Advisors LLC boosted 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 buying an additional 11,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Western Asset Mortgage Opportunity Fund by 3.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 35,897 shares of the investment management company’s stock worth $397,000 after buying an additional 1,097 shares during the last quarter.

Western Asset Mortgage Opportunity Fund Company Profile

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.