Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Sees Large Increase in Short Interest

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 219,800 shares, an increase of 163.9% from the October 15th total of 83,300 shares. Based on an average trading volume of 370,400 shares, the days-to-cover ratio is currently 0.6 days.

Western Asset High Income Opportunity Fund Trading Down 1.4 %

HIO opened at $3.91 on Friday. Western Asset High Income Opportunity Fund has a one year low of $3.69 and a one year high of $4.07. The business’s 50-day simple moving average is $4.00 and its 200-day simple moving average is $3.89.

Institutional Trading of Western Asset High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in HIO. Oppenheimer & Co. Inc. lifted its holdings in shares of Western Asset High Income Opportunity Fund by 79.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 68,344 shares of the closed-end fund’s stock valued at $267,000 after buying an additional 30,163 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Western Asset High Income Opportunity Fund by 35.2% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 162,361 shares of the closed-end fund’s stock valued at $633,000 after buying an additional 42,257 shares during the period. City of London Investment Management Co. Ltd. lifted its holdings in shares of Western Asset High Income Opportunity Fund by 44.4% in the 1st quarter. City of London Investment Management Co. Ltd. now owns 1,025,343 shares of the closed-end fund’s stock valued at $3,999,000 after buying an additional 315,213 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund in the 1st quarter valued at approximately $63,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund in the 1st quarter valued at approximately $1,002,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc is a closed ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company and Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States.