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

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 134,900 shares, a growth of 135.0% from the May 31st total of 57,400 shares. Based on an average daily volume of 392,900 shares, the short-interest ratio is currently 0.3 days.

Western Asset High Income Opportunity Fund Stock Performance

Shares of HIO stock opened at $3.81 on Friday. Western Asset High Income Opportunity Fund has a one year low of $3.52 and a one year high of $4.03. The company’s fifty day moving average price is $3.77 and its 200-day moving average price is $3.86.

Western Asset High Income Opportunity Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 24th will be paid a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a yield of 11.34%. This is a boost from Western Asset High Income Opportunity Fund’s previous monthly dividend of $0.04. The ex-dividend date is Wednesday, July 24th.

Hedge Funds Weigh In On Western Asset High Income Opportunity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in HIO. City of London Investment Management Co. Ltd. grew its stake in shares of Western Asset High Income Opportunity Fund by 44.4% in the 1st quarter. City of London Investment Management Co. Ltd. now owns 1,025,343 shares of the closed-end fund’s stock worth $3,999,000 after buying an additional 315,213 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Western Asset High Income Opportunity Fund during the 1st quarter worth about $1,002,000. RFG Advisory LLC boosted its stake in shares of Western Asset High Income Opportunity Fund by 63.0% during the 1st quarter. RFG Advisory LLC now owns 487,772 shares of the closed-end fund’s stock worth $1,902,000 after purchasing an additional 188,510 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Western Asset High Income Opportunity Fund during the 4th quarter worth about $464,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Western Asset High Income Opportunity Fund by 10.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,095,947 shares of the closed-end fund’s stock worth $4,230,000 after purchasing an additional 100,000 shares during the period.

Western Asset High Income Opportunity Fund Company Profile

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.