Insider Selling: Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO) Major Shareholder Sells $324,368.55 in Stock

Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO) major shareholder Saba Capital Management, L.P. sold 65,529 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $4.95, for a total value of $324,368.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Wednesday, October 28th, Saba Capital Management, L.P. sold 108,305 shares of Western Asst High Incm Opprtnty Fnd stock. The stock was sold at an average price of $4.89, for a total value of $529,611.45.
  • On Friday, October 23rd, Saba Capital Management, L.P. sold 16,733 shares of Western Asst High Incm Opprtnty Fnd stock. The shares were sold at an average price of $4.98, for a total value of $83,330.34.

Shares of NYSE HIO opened at $4.90 on Friday. Western Asst High Incm Opprtnty Fnd Inc. has a one year low of $3.00 and a one year high of $5.28. The company’s fifty day moving average is $4.98 and its two-hundred day moving average is $4.76.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 20th will be paid a $0.0325 dividend. This represents a $0.39 annualized dividend and a dividend yield of 7.96%. The ex-dividend date is Thursday, November 19th.

A number of hedge funds have recently added to or reduced their stakes in HIO. Capital Investment Advisors LLC grew its position in Western Asst High Incm Opprtnty Fnd by 3.5% during the third quarter. Capital Investment Advisors LLC now owns 1,389,258 shares of the closed-end fund’s stock valued at $6,807,000 after acquiring an additional 47,365 shares during the period. Dynamic Advisor Solutions LLC increased its position in shares of Western Asst High Incm Opprtnty Fnd by 69.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 31,800 shares of the closed-end fund’s stock worth $156,000 after purchasing an additional 13,043 shares during the last quarter. Capital Wealth Alliance LLC bought a new stake in Western Asst High Incm Opprtnty Fnd in the third quarter valued at about $102,000. Robinson Capital Management LLC increased its holdings in shares of Western Asst High Incm Opprtnty Fnd by 62.5% in the 3rd quarter. Robinson Capital Management LLC now owns 285,987 shares of the closed-end fund’s stock valued at $1,401,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Gilman Hill Asset Management LLC raised its holdings in shares of Western Asst High Incm Opprtnty Fnd by 19.2% during the third quarter. Gilman Hill Asset Management LLC now owns 130,500 shares of the closed-end fund’s stock worth $639,000 after purchasing an additional 21,000 shares during the period.

About Western Asst High Incm Opprtnty Fnd

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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