Western Asset Mortgage Opportunity Fund (NYSE:DMO) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.97 and traded as low as $10.57. Western Asset Mortgage Opportunity Fund shares last traded at $10.6050, with a volume of 24,836 shares.

Western Asset Mortgage Opportunity Fund Stock Performance

The company has a fifty day moving average price of $10.85 and a 200-day moving average price of $10.96.

Western Asset Mortgage Opportunity Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. LPL Financial LLC boosted its holdings in Western Asset Mortgage Opportunity Fund by 13.7% in 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 in the last quarter. Baird Financial Group Inc. raised its holdings in Western Asset Mortgage Opportunity Fund by 8.6% during the second quarter. Baird Financial Group Inc. now owns 218,782 shares of the investment management company’s stock valued at $2,612,000 after buying an additional 17,374 shares in the last quarter. Marex Group plc acquired a new position in shares of Western Asset Mortgage Opportunity Fund during the 4th quarter valued at about $189,000. Royal Bank of Canada increased its holdings in shares of Western Asset Mortgage Opportunity Fund by 4.0% during the 4th quarter. Royal Bank of Canada now owns 391,231 shares of the investment management company’s stock valued at $4,327,000 after acquiring an additional 14,948 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of Western Asset Mortgage Opportunity Fund by 171.9% in the 2nd quarter. CoreCap Advisors LLC now owns 17,400 shares of the investment management company’s stock valued at $186,000 after acquiring an additional 11,000 shares in 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.