KKR Income Opportunities Fund (NYSE:KIO) Stock Price Up 1.5% – Time to Buy?

KKR Income Opportunities Fund (NYSE:KIO) shares rose 1.5% during mid-day trading on Monday. The stock traded as high as $10.13 and last traded at $10.1150. 359,210 shares changed hands during mid-day trading, an increase of 51% from the average daily volume of 238,673 shares. The stock had previously closed at $9.97.

KKR Income Opportunities Fund Stock Performance

The stock’s 50-day simple moving average is $10.32 and its 200 day simple moving average is $11.00.

KKR Income Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Friday, December 11th will be paid a dividend of $0.1215 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Friday, December 11th.

Insider Buying and Selling

In other news, CFO Justin Takao acquired 2,914 shares of KKR Income Opportunities Fund stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $28,353.22. Following the completion of the transaction, the chief financial officer directly owned 8,098 shares in the company, valued at approximately $78,793.54. This trade represents a 56.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 12,047 shares of company stock valued at $119,290 in the last three months.

Hedge Funds Weigh In On KKR Income Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in KIO. Csenge Advisory Group purchased a new position in KKR Income Opportunities Fund in the third quarter worth $115,000. Kestra Advisory Services LLC purchased a new stake in shares of KKR Income Opportunities Fund during the 3rd quarter worth $123,000. Oppenheimer & Co. Inc. purchased a new stake in shares of KKR Income Opportunities Fund during the 3rd quarter worth $103,000. Total Wealth Planning & Management Inc. boosted its position in shares of KKR Income Opportunities Fund by 19.3% during the 3rd quarter. Total Wealth Planning & Management Inc. now owns 34,872 shares of the investment management company’s stock worth $359,000 after purchasing an additional 5,634 shares in the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of KKR Income Opportunities Fund by 19.3% during the 3rd quarter. Wedbush Securities Inc. now owns 73,443 shares of the investment management company’s stock worth $756,000 after purchasing an additional 11,869 shares during the period.

KKR Income Opportunities Fund Company Profile

KKR Income Opportunities Fund (NYSE: KIO) is a non-diversified, closed-end management investment company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a portfolio of income-producing credit securities.

KIO invests primarily in below-investment-grade and unrated debt instruments, including senior secured loans, high-yield bonds, privately placed debt, structured credit and other income-oriented credit investments.