Western Asset Mortgage Opportunity Fund (NYSE:DMO) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.10 and traded as low as $10.63. Western Asset Mortgage Opportunity Fund shares last traded at $10.6440, with a volume of 40,674 shares changing hands.

Western Asset Mortgage Opportunity Fund Price Performance

The firm has a fifty day moving average of $10.98 and a 200-day moving average of $11.10.

Western Asset Mortgage Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.12 dividend. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Western Asset Mortgage Opportunity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Western Asset Mortgage Opportunity Fund by 2.7% in the 1st quarter. Royal Bank of Canada now owns 401,952 shares of the investment management company’s stock valued at $4,321,000 after buying an additional 10,721 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Western Asset Mortgage Opportunity Fund during the first quarter worth about $114,000. Commonwealth Equity Services LLC lifted its position in shares of Western Asset Mortgage Opportunity Fund by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 35,897 shares of the investment management company’s stock worth $397,000 after purchasing an additional 1,097 shares during the last quarter. Marex Group plc bought a new position in shares of Western Asset Mortgage Opportunity Fund during the fourth quarter worth about $189,000. Finally, LPL Financial LLC lifted its position in shares of Western Asset Mortgage Opportunity Fund by 13.7% during the fourth quarter. LPL Financial LLC now owns 251,590 shares of the investment management company’s stock worth $2,783,000 after purchasing an additional 30,402 shares during the last quarter.

About Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund, Inc (NYSE: DMO) is a closed‐end management investment company that seeks to provide a high level of current income, with capital preservation as a secondary objective. The fund pursues these goals by allocating its assets among a diversified portfolio of mortgage‐related securities.

The fund’s core investments include agency and non‐agency residential mortgage‐backed securities (MBS), commercial mortgage‐backed securities (CMBS) and asset‐backed securities (ABS) secured by pools of auto loans, credit card receivables, home equity loans and other consumer debt obligations.