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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,480,000 shares, an increase of 115.7% from the February 28th total of 686,000 shares. Based on an average daily volume of 531,400 shares, the short-interest ratio is presently 2.8 days.

Western Asset High Income Opportunity Fund Stock Performance

Shares of Western Asset High Income Opportunity Fund stock traded down $0.03 during midday trading on Friday, hitting $4.00. The company had a trading volume of 276,598 shares, compared to its average volume of 430,961. Western Asset High Income Opportunity Fund has a 12-month low of $3.69 and a 12-month high of $4.15. The company has a fifty day simple moving average of $4.01 and a 200 day simple moving average of $3.99.

Western Asset High Income Opportunity Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.0355 dividend. This represents a yield of 10.47%. The ex-dividend date is Monday, March 24th.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

Several institutional investors have recently made changes to their positions in HIO. Strategic Financial Concepts LLC purchased a new stake in Western Asset High Income Opportunity Fund in the 4th quarter worth $82,000. Park Avenue Securities LLC increased its stake in Western Asset High Income Opportunity Fund by 32.1% during the 4th quarter. Park Avenue Securities LLC now owns 16,247 shares of the closed-end fund’s stock worth $64,000 after buying an additional 3,951 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Western Asset High Income Opportunity Fund by 3.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 106,700 shares of the closed-end fund’s stock valued at $419,000 after acquiring an additional 3,584 shares during the last quarter. Choreo LLC acquired a new stake in Western Asset High Income Opportunity Fund during the fourth quarter worth $58,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Western Asset High Income Opportunity Fund during the 4th quarter worth $43,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc is a closed ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company and Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States.