Western Asset High Income Opportunity Fund (NYSE:HIO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.90 and traded as low as $3.77. Western Asset High Income Opportunity Fund shares last traded at $3.78, with a volume of 382,128 shares changing hands.

Western Asset High Income Opportunity Fund Stock Down 1.7%

The business has a fifty day moving average price of $3.93 and a two-hundred day moving average price of $3.90.

Western Asset High Income Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 24th will be issued a $0.0355 dividend. The ex-dividend date is Friday, October 24th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%.

Insider Buying and Selling

In other news, Director Peter Daniel Charles Mason acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were purchased at an average price of $4.02 per share, for a total transaction of $40,200.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $40,200. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in HIO. Kanen Wealth Management LLC acquired a new position in Western Asset High Income Opportunity Fund in the first quarter worth approximately $1,448,000. Oppenheimer & Co. Inc. increased its holdings in Western Asset High Income Opportunity Fund by 8.4% in the first quarter. Oppenheimer & Co. Inc. now owns 74,042 shares of the closed-end fund’s stock worth $295,000 after buying an additional 5,749 shares during the last quarter. Sigma Planning Corp acquired a new position in Western Asset High Income Opportunity Fund in the first quarter worth approximately $69,000. Accredited Investor Services LLC acquired a new position in Western Asset High Income Opportunity Fund in the first quarter worth approximately $44,000. Finally, Choreo LLC increased its holdings in Western Asset High Income Opportunity Fund by 30.9% in the first quarter. Choreo LLC now owns 19,448 shares of the closed-end fund’s stock worth $77,000 after buying an additional 4,593 shares during the last quarter.

Western Asset High Income Opportunity Fund Company Profile

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.