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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 87,388 shares, a drop of 60.3% from the July 15th total of 219,943 shares. Based on an average daily trading volume, of 477,688 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Western Asset High Income Opportunity Fund

Several large investors have recently made changes to their positions in HIO. Rareview Capital LLC acquired a new position in shares of Western Asset High Income Opportunity Fund during the 4th quarter valued at $2,279,000. Sit Investment Associates Inc. boosted its position in shares of Western Asset High Income Opportunity Fund by 33.2% in the fourth quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock worth $8,293,000 after buying an additional 556,840 shares during the period. Shaker Financial Services LLC grew its stake in shares of Western Asset High Income Opportunity Fund by 191.0% in the fourth quarter. Shaker Financial Services LLC now owns 613,763 shares of the closed-end fund’s stock valued at $2,277,000 after buying an additional 402,861 shares in the last quarter. Readystate Asset Management LP raised its holdings in shares of Western Asset High Income Opportunity Fund by 410.1% during the 4th quarter. Readystate Asset Management LP now owns 477,054 shares of the closed-end fund’s stock valued at $1,770,000 after buying an additional 383,537 shares during the period. Finally, Wolverine Asset Management LLC raised its holdings in shares of Western Asset High Income Opportunity Fund by 141.4% during the 4th quarter. Wolverine Asset Management LLC now owns 640,496 shares of the closed-end fund’s stock valued at $2,376,000 after buying an additional 375,140 shares during the period.

Western Asset High Income Opportunity Fund Price Performance

HIO stock traded up $0.01 during trading on Friday, reaching $3.56. 240,910 shares of the stock traded hands, compared to its average volume of 370,427. The business’s 50 day moving average price is $3.60 and its 200-day moving average price is $3.66. Western Asset High Income Opportunity Fund has a 52-week low of $3.47 and a 52-week high of $4.05.

Western Asset High Income Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.0355 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 12.0%.

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.