Western Asset High Income Opportunity Fund (NYSE:HIO) Issues Quarterly Earnings Results

Western Asset High Income Opportunity Fund (NYSE:HIO) announced its earnings results on Thursday. The closed-end fund reported $0.08 earnings per share for the quarter, Zacks reports.

Western Asset High Income Opportunity Fund Price Performance

Shares of HIO opened at $3.53 on Friday. The company has a 50 day moving average price of $3.59 and a 200-day moving average price of $3.65. Western Asset High Income Opportunity Fund has a fifty-two week low of $3.47 and a fifty-two week high of $4.05.

Western Asset High Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.0355 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 12.1%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Western Asset High Income Opportunity Fund by 19.7% in the fourth quarter. Invesco Ltd. now owns 1,220,952 shares of the closed-end fund’s stock worth $4,530,000 after purchasing an additional 201,345 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Western Asset High Income Opportunity Fund by 13.5% in the 4th quarter. Wells Fargo & Company MN now owns 776,289 shares of the closed-end fund’s stock valued at $2,880,000 after purchasing an additional 92,096 shares during the last quarter. UBS Group AG boosted its stake in Western Asset High Income Opportunity Fund by 59.7% in the 3rd quarter. UBS Group AG now owns 753,190 shares of the closed-end fund’s stock worth $2,892,000 after purchasing an additional 281,615 shares in the last quarter. Raymond James Financial Inc. grew its position in Western Asset High Income Opportunity Fund by 3.2% during the 3rd quarter. Raymond James Financial Inc. now owns 707,833 shares of the closed-end fund’s stock worth $2,718,000 after purchasing an additional 21,669 shares during the last quarter. Finally, Kanen Wealth Management LLC increased its stake in Western Asset High Income Opportunity Fund by 77.4% during the 3rd quarter. Kanen Wealth Management LLC now owns 697,018 shares of the closed-end fund’s stock valued at $2,677,000 after purchasing an additional 304,100 shares in the last quarter.

About Western Asset High Income Opportunity Fund

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.