Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Sees Large Decrease in Short Interest

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 83,300 shares, a decline of 64.1% from the September 30th total of 232,300 shares. Based on an average daily volume of 374,000 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset High Income Opportunity Fund Stock Performance

Shares of HIO traded up $0.01 during mid-day trading on Friday, reaching $3.99. The company had a trading volume of 532,073 shares, compared to its average volume of 368,598. The firm has a 50-day moving average price of $3.99 and a 200 day moving average price of $3.87. Western Asset High Income Opportunity Fund has a 52 week low of $3.52 and a 52 week high of $4.07.

Western Asset High Income Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 21st will be given a $0.0355 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 10.68%.

Institutional Trading of Western Asset High Income Opportunity Fund

A number of hedge funds have recently made changes to their positions in HIO. Pathway Financial Advisers LLC increased its holdings in shares of Western Asset High Income Opportunity Fund by 2.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 262,557 shares of the closed-end fund’s stock worth $1,000,000 after purchasing an additional 5,682 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Western Asset High Income Opportunity Fund during the 1st quarter valued at approximately $63,000. Wolverine Asset Management LLC purchased a new position in Western Asset High Income Opportunity Fund in the 2nd quarter worth approximately $185,000. Quadrature Capital Ltd purchased a new position in Western Asset High Income Opportunity Fund in the 4th quarter worth approximately $99,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Western Asset High Income Opportunity Fund by 65.6% in 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 purchasing an additional 719,434 shares in the last quarter.

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.