Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.88 and traded as low as $3.73. Western Asset High Income Opportunity Fund shares last traded at $3.7450, with a volume of 712,671 shares changing hands.

Western Asset High Income Opportunity Fund Price Performance

The stock’s 50 day moving average is $3.78 and its 200-day moving average is $3.88.

Western Asset High Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.0355 dividend. This represents a c) annualized dividend and a dividend yield of 11.4%. The ex-dividend date is Friday, February 20th.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in Western Asset High Income Opportunity Fund in the 2nd quarter valued at approximately $28,000. Farther Finance Advisors LLC raised its stake in shares of Western Asset High Income Opportunity Fund by 504.8% in the third quarter. Farther Finance Advisors LLC now owns 7,584 shares of the closed-end fund’s stock worth $29,000 after purchasing an additional 6,330 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Western Asset High Income Opportunity Fund by 84.7% during the third quarter. PNC Financial Services Group Inc. now owns 10,900 shares of the closed-end fund’s stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Western Asset High Income Opportunity Fund by 807.2% during the first quarter. Geneos Wealth Management Inc. now owns 11,721 shares of the closed-end fund’s stock valued at $47,000 after buying an additional 10,429 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Western Asset High Income Opportunity Fund during the third 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.