Short Interest in Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) Decreases By 90.9%

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 25,700 shares, a decrease of 90.9% from the December 15th total of 283,500 shares. Based on an average daily volume of 481,400 shares, the short-interest ratio is presently 0.1 days.

In other news, major shareholder Saba Capital Management, L.P. sold 152,171 shares of the company’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $4.98, for a total value of $757,811.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William R. Hutchinson sold 7,536 shares of the company’s stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $5.02, for a total value of $37,830.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 420,160 shares of company stock worth $2,076,247.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIO. Jeppson Wealth Management LLC acquired a new stake in Western Asset High Income Opportunity Fund during the third quarter worth approximately $39,000. Lindbrook Capital LLC lifted its holdings in Western Asset High Income Opportunity Fund by 35.7% during the third quarter. Lindbrook Capital LLC now owns 19,000 shares of the closed-end fund’s stock valued at $93,000 after purchasing an additional 5,000 shares during the last quarter. Capital Wealth Alliance LLC bought a new position in Western Asset High Income Opportunity Fund during the third quarter worth about $102,000. Commonwealth Equity Services LLC increased its stake in shares of Western Asset High Income Opportunity Fund by 56.4% in the second quarter. Commonwealth Equity Services LLC now owns 22,325 shares of the closed-end fund’s stock worth $103,000 after purchasing an additional 8,054 shares in the last quarter. Finally, Connecticut Wealth Management LLC bought a new stake in shares of Western Asset High Income Opportunity Fund in the third quarter valued at approximately $121,000.

NYSE HIO traded up $0.03 during trading hours on Wednesday, reaching $4.93. 6,310 shares of the company’s stock were exchanged, compared to its average volume of 783,430. Western Asset High Income Opportunity Fund has a one year low of $3.00 and a one year high of $5.28. The firm has a fifty day moving average of $5.00 and a 200-day moving average of $4.94.

The firm also recently declared a monthly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 19th will be given a dividend of $0.0325 per share. The ex-dividend date is Thursday, February 18th. This represents a $0.39 dividend on an annualized basis and a yield of 7.91%.

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.

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