Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Breaks Below Fifty Day Moving Average – Here’s Why

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s stock price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $3.32 and traded as low as $3.28. Western Asset High Income Opportunity Fund shares last traded at $3.3070, with a volume of 702,365 shares traded.

Western Asset High Income Opportunity Fund Trading Down 1.0%

The business has a 50-day moving average price of $3.32 and a 200-day moving average price of $3.57.

Western Asset High Income Opportunity Fund (NYSE:HIO) last issued its earnings results on Thursday, August 20th. The closed-end fund reported $0.08 EPS for the quarter.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

Hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund during the 3rd quarter valued at about $44,000. Eclectic Associates Inc. ADV bought a new stake in Western Asset High Income Opportunity Fund in the third quarter valued at about $46,000. First Nebraska Trust Co bought a new stake in Western Asset High Income Opportunity Fund in the third quarter valued at about $72,000. Fifth Third Bancorp acquired a new position in Western Asset High Income Opportunity Fund in the first quarter worth about $83,000. Finally, Wedbush Securities Inc. raised its position in Western Asset High Income Opportunity Fund by 84.0% in the second quarter. Wedbush Securities Inc. now owns 21,793 shares of the closed-end fund’s stock worth $83,000 after purchasing an additional 9,950 shares in the last quarter.

Western Asset High Income Opportunity Fund Company Profile

Western Asset High Income Opportunity Fund (NYSE: HIO) is a closed-end investment fund managed by Western Asset Management Company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. HIO invests primarily in below-investment-grade corporate bonds and other high-yield debt securities. Its portfolio may include debt issued by companies and governments in the United States and international markets, with investments selected based on credit quality, income potential, and market conditions.