Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.68 and traded as low as $3.63. Western Asset High Income Opportunity Fund shares last traded at $3.6450, with a volume of 155,951 shares trading hands.

Western Asset High Income Opportunity Fund Trading Down 1.2%

The firm has a fifty day simple moving average of $3.62 and a 200-day simple moving average of $3.68.

Western Asset High Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.0355 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Laurel Oak Wealth Management LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund in the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. increased its holdings in shares of 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 valued at $42,000 after acquiring an additional 5,000 shares during the period. One Capital Management LLC acquired a new position in shares of Western Asset High Income Opportunity Fund in the 4th quarter valued at $43,000. Geneos Wealth Management Inc. raised its position 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 valued at $47,000 after purchasing an additional 10,429 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Western Asset High Income Opportunity Fund in the 3rd quarter valued at $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.