Western Asset High Income Opportunity Fund (NYSE:HIO) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.83 and traded as low as $3.78. Western Asset High Income Opportunity Fund shares last traded at $3.7950, with a volume of 282,370 shares changing hands.

Western Asset High Income Opportunity Fund Price Performance

The company’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $3.83.

Institutional Investors Weigh In On Western Asset High Income Opportunity Fund

Several hedge funds have recently bought and sold shares of HIO. Stratos Wealth Partners LTD. lifted its holdings in Western Asset High Income Opportunity Fund by 72.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 59,675 shares of the closed-end fund’s stock worth $238,000 after purchasing an additional 25,008 shares during the last quarter. Penserra Capital Management LLC increased its position in Western Asset High Income Opportunity Fund by 16.3% during the 3rd quarter. Penserra Capital Management LLC now owns 1,429,226 shares of the closed-end fund’s stock worth $5,488,000 after buying an additional 200,675 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Western Asset High Income Opportunity Fund during the third quarter worth $1,019,000. Good Life Advisors LLC lifted its holdings in shares of Western Asset High Income Opportunity Fund by 35.5% during the second quarter. Good Life Advisors LLC now owns 56,646 shares of the closed-end fund’s stock worth $225,000 after buying an additional 14,840 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Western Asset High Income Opportunity Fund by 17.1% in the second quarter. Envestnet Asset Management Inc. now owns 126,879 shares of the closed-end fund’s stock valued at $505,000 after acquiring an additional 18,547 shares during the period.

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.