Short Interest in Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Expands By 9.0%

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 234,300 shares, an increase of 9.0% from the August 31st total of 214,900 shares. Based on an average daily volume of 392,800 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIO. Steward Partners Investment Advisory LLC boosted its stake in Western Asset High Income Opportunity Fund by 814.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 101,423 shares of the closed-end fund’s stock valued at $391,000 after acquiring an additional 90,330 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Western Asset High Income Opportunity Fund during the 4th quarter valued at approximately $464,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of Western Asset High Income Opportunity Fund by 3.3% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 220,227 shares of the closed-end fund’s stock valued at $850,000 after buying an additional 6,995 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Western Asset High Income Opportunity Fund by 5.9% during the 4th quarter. Chicago Partners Investment Group LLC now owns 498,992 shares of the closed-end fund’s stock valued at $1,956,000 after buying an additional 27,775 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Western Asset High Income Opportunity Fund during the 4th quarter valued at approximately $99,000.

Western Asset High Income Opportunity Fund Stock Down 0.2 %

Western Asset High Income Opportunity Fund stock traded down $0.01 during midday trading on Tuesday, hitting $4.04. 438,927 shares of the stock were exchanged, compared to its average volume of 368,594. Western Asset High Income Opportunity Fund has a 52-week low of $3.52 and a 52-week high of $4.07. The business’s 50-day moving average price is $3.94 and its 200-day moving average price is $3.86.

Western Asset High Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 24th will be issued a dividend of $0.0355 per share. This represents a $0.43 annualized dividend and a yield of 10.54%. The ex-dividend date of this dividend is Thursday, October 24th.

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.