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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.
We review the CEF market valuation and performance through the last week of February and highlight recent market action. Closed-end fund discounts remain tight, with Utilities and MLP funds leading performance for the week. CLO Equity CEF CCIF cut its distribution, likely to retain earnings and support NAV, despite core NII exceeding the previous payout.
NEW YORK--(BUSINESS WIRE)--Category: Financials.
Penserra Capital Management LLC grew its position in shares of Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) by 16.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,429,226 shares of the closed-end fund's stock after acquiring an additional 200,675 shares during the quarter.