Western Asset High Income Opportunity Fund (NYSE:HIO) Shares Cross Below 200-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 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.

Western Asset High Income Opportunity Fund Stock Performance

The stock has a fifty day moving average price of $3.97 and a 200 day moving average price of $3.93.

Western Asset High Income Opportunity Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HIO. Raymond James & Associates grew its position in shares of 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 valued at $2,352,000 after purchasing an additional 389,067 shares during the last quarter. Raymond James Trust N.A. lifted its position in Western Asset High Income Opportunity Fund by 23.0% in the second quarter. Raymond James Trust N.A. now owns 18,003 shares of the closed-end fund’s stock worth $69,000 after purchasing an additional 3,361 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Western Asset High Income Opportunity Fund by 65.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,815,381 shares of the closed-end fund’s stock valued at $6,917,000 after acquiring an additional 719,434 shares during the period. Kelleher Financial Advisors bought a new position in shares of Western Asset High Income Opportunity Fund during the 2nd quarter worth approximately $97,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund during the 2nd quarter worth about $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.