Western Asset High Income Opportunity Fund (NYSE:HIO) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $3.96 and traded as high as $3.99. Western Asset High Income Opportunity Fund shares last traded at $3.97, with a volume of 354,467 shares.

Western Asset High Income Opportunity Fund Trading Up 0.3 %

The company has a fifty day moving average of $3.96 and a two-hundred day moving average of $3.94.

Western Asset High Income Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be paid a dividend of $0.0355 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 10.73%.

Institutional Investors Weigh In On Western Asset High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in HIO. Pathway Financial Advisers LLC grew its stake in shares of Western Asset High Income Opportunity Fund by 2.2% during the 2nd quarter. Pathway Financial Advisers LLC now owns 262,557 shares of the closed-end fund’s stock worth $1,000,000 after purchasing an additional 5,682 shares during the period. Avior Wealth Management LLC increased its holdings in Western Asset High Income Opportunity Fund by 25.7% in the third quarter. Avior Wealth Management LLC now owns 28,404 shares of the closed-end fund’s stock valued at $115,000 after buying an additional 5,802 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Western Asset High Income Opportunity Fund by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 531,334 shares of the closed-end fund’s stock worth $2,152,000 after acquiring an additional 6,000 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund in the 3rd quarter worth approximately $40,000. Finally, Horizon Kinetics Asset Management LLC purchased a new position in Western Asset High Income Opportunity Fund in the 3rd quarter valued at approximately $41,000.

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.