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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. It seeks to invest in high-yielding corporate debt obligations. The fund seeks to maintain an average duration of around four years with an average credit quality of B. It benchmarks the performance of its portfolio against the Barclays Capital U.S. Corporate High Yield 2%…
Western Asset High Income Opportunity Fund offers a ~12% yield and trades at a 9% discount to NAV. HIO's non-leveraged structure appeals to risk-averse investors, but its long-term performance lags peers and its benchmark. While the high distribution rate can be attention-grabbing, distribution coverage suggests continued potential for erosion going forward.
Western Asset High Income Opportunity Fund Inc. (NYSE: HIO - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.67 and traded as low as $3.53. Western Asset High Income Opportunity Fund shares last traded at $3.5550, with a volume of
Western Asset High Income Opportunity Fund Inc. (NYSE: HIO - Get Free Report) shares crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $3.68 and traded as low as $3.63. Western Asset High Income Opportunity Fund shares last traded at $3.6450, with
NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.
NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.