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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.93 and traded as low as $3.91. Western Asset High Income Opportunity Fund shares last traded at $3.94, with a volume of 538,584 shares trading hands.

Western Asset High Income Opportunity Fund Price Performance

The stock’s 50 day simple moving average is $3.97 and its two-hundred day simple moving average is $3.93.

Western Asset High Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.0355 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $0.43 annualized dividend and a dividend yield of 10.81%.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

Several large investors have recently made changes to their positions in the company. Raymond James & Associates increased its position in Western Asset High Income Opportunity Fund by 170.4% in the second quarter. Raymond James & Associates now owns 617,407 shares of the closed-end fund’s stock worth $2,352,000 after purchasing an additional 389,067 shares during the period. Raymond James Trust N.A. grew its position in shares of Western Asset High Income Opportunity Fund by 23.0% during the 2nd quarter. Raymond James Trust N.A. now owns 18,003 shares of the closed-end fund’s stock worth $69,000 after buying an additional 3,361 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Western Asset High Income Opportunity Fund by 65.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,815,381 shares of the closed-end fund’s stock worth $6,917,000 after buying an additional 719,434 shares during the period. Kelleher Financial Advisors bought a new stake in shares of Western Asset High Income Opportunity Fund during the second quarter worth approximately $97,000. Finally, Wolverine Asset Management LLC acquired a new position in Western Asset High Income Opportunity Fund in the second quarter valued at approximately $185,000.

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.