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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.72 and traded as low as $3.58. Western Asset High Income Opportunity Fund shares last traded at $3.6150, with a volume of 539,282 shares trading hands.

Western Asset High Income Opportunity Fund Stock Performance

The stock’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.72.

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 given a dividend of $0.0355 per share. This represents a c) dividend on an annualized basis 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 institutional investors and hedge funds have recently modified their holdings of HIO. Laurel Oak Wealth Management LLC bought a new position in shares of Western Asset High Income Opportunity Fund during the 4th quarter valued at approximately $40,000. PNC Financial Services Group Inc. boosted its holdings in Western Asset High Income Opportunity Fund by 84.7% in the 3rd 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 during the period. One Capital Management LLC bought a new position in Western Asset High Income Opportunity Fund in the 4th quarter worth approximately $43,000. Geneos Wealth Management Inc. boosted 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 worth $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 worth approximately $47,000.

Western Asset High Income Opportunity Fund Company Profile

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.