Western Asset Mortgage Opportunity Fund (NYSE:DMO) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $9.71 and traded as high as $9.87. Western Asset Mortgage Opportunity Fund shares last traded at $9.7450, with a volume of 91,801 shares.

Western Asset Mortgage Opportunity Fund Trading Up 1.0%

The firm has a fifty day simple moving average of $9.71 and a two-hundred day simple moving average of $10.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Western Asset Mortgage Opportunity Fund by 2.7% during the first quarter. Royal Bank of Canada now owns 401,952 shares of the investment management company’s stock worth $4,321,000 after purchasing an additional 10,721 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Western Asset Mortgage Opportunity Fund by 35.6% in the second quarter. Baird Financial Group Inc. now owns 182,317 shares of the investment management company’s stock worth $1,953,000 after purchasing an additional 47,908 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in shares of Western Asset Mortgage Opportunity Fund by 21.8% in the third quarter. Venture Visionary Partners LLC now owns 152,218 shares of the investment management company’s stock valued at $1,449,000 after buying an additional 27,199 shares during the period. Park Avenue Securities LLC raised its position in Western Asset Mortgage Opportunity Fund by 5.0% in the 3rd quarter. Park Avenue Securities LLC now owns 88,096 shares of the investment management company’s stock valued at $839,000 after purchasing an additional 4,213 shares during the last quarter. Finally, Noble Wealth Management PBC increased its stake in Western Asset Mortgage Opportunity Fund by 7.9% in the third quarter. Noble Wealth Management PBC now owns 42,987 shares of the investment management company’s stock valued at $409,000 after purchasing an additional 3,150 shares in the last quarter.

About Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund (NYSE: DMO) is a closed-end investment fund focused on mortgage-related securities. The fund seeks to generate current income and total return by investing in a portfolio of mortgage-backed and other mortgage-related investments.

Its investments may include residential mortgage-backed securities, commercial mortgage-backed securities and other debt instruments associated with the U.S. housing and commercial real estate markets. The portfolio can include both agency and non-agency securities, giving the fund exposure to mortgage credit and interest-rate markets.

The fund is managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies.