Western Asset High Income Opportunity Fund Inc

Western Asset High Income Opportunity Fund, Inc. is a closed-end investment fund. Its investment objectives are to seek high current income and capital appreciation. The firm invests in high-yield debt securities. The company was founded on November 16, 1993 and is headquartered in New York, NY.

As I write this, the S&P 500 is sitting on a 28% total return for 2024. And of course, that could shoot even higher if we get the traditional Santa Claus rally.

How To Get 11% Dividends And Wealth Protection In 2025

HIO is a well-diversified fixed income CEF with over 250 holdings, mainly in U.S. high-yield bonds, and minimal currency risk. The fund has shown robust returns, outperforming unleveraged peers, but lags over a longer time frame and has wider drawdowns. Current tight credit spreads suggest caution; consider lightening exposure and re-entering after a 10% price drop.

HIO: High-Yield CEF With International Exposure

The Western Asset High Income Opportunity Fund offers a high yield of 10.76%, outperforming peers but with potential risks due to inflation. The fund primarily invests in junk bonds, but has the potential to invest in common stocks. It is not currently exercising this option. Bonds may not provide sufficient protection against a resurgence of inflation, which is quite possible once the Fed cuts rates.

HIO: Limited Protection Against A Resurgence Of Inflation And Limited Upside Potential

Think back just a couple weeks: The “yen carry trade” had investors running scared, and we had a terrific opportunity to buy stocks—better still our favorite income plays on stocks: closed-end funds (CEFs) yielding 8%+.

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The Western Asset High Income Opportunity Fund (HIO) is an unleveraged option for high-yield exposure, currently trading at a discount. HIO's historical trading level suggests that waiting for a wider discount may be beneficial, which can especially happen during periods of greater market volatility. The fund's distribution yield is 11.30%, but investors should be aware of the fund's history of distribution cuts and a lack of coverage.

HIO: Non-Leveraged High-Yield Focused CEF

NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.

Western Asset High Income Opportunity Fund Inc. Announces Results of Annual Meeting of Stockholders

Western Asset High Income Fund

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NEW YORK--(BUSINESS WIRE)--Effective March 1, 2024, the named portfolio management team responsible for the day-to-day oversight of the Fund is as follows:

Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) Announces Portfolio Management Team Update

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NEW YORK--(BUSINESS WIRE)--Category: Distribution Related.

Franklin Templeton Fund Adviser, LLC Announces Distributions for the Months of March, April and May 2024

The Western Asset High Income Opportunity Fund Inc. offers a current yield of 10.87%, higher than many other junk bond funds. The HIO fund has managed to outperform the Bloomberg junk bond index on a total return basis over the past three years, despite not using leverage. The fund primarily invests in high-yield bonds and has taken precautions to protect against defaults, but the risk lies in interest rates rather than defaults.

HIO: One Of The Better Junk Bond CEFs With A Double-Digit Yield

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Too many folks are letting so-called “safe” yields on Treasuries distract them from the real action these days: 10 “stealth” bond plays yielding way more!

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HIO: Unlevered Junk Bond Fund Paying More Than It Earns.

HIO: Unlevered Junk Bond Fund Paying More Than It Earns

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Only funds with yields over 8%, coverage higher than 90% and trading at a discount are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, December 2022

Western Asset High Income Opportunity Fund is a fixed income CEF. The fund focuses on U.S. high yield and has a middle of the road credit build, with no excessive risk taken via CCC credits.

HIO: Unleveraged Fund With A Leveraged Performance

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The Board of each Fund announced today the appointment of Eileen Kamerick as Lead Independent Director, effective November 8, 2022. Ms. Kamerick replaces William Hutchinson, the former Lead Independent Director of the Funds, who recently passed away. The Boards also announced that Nisha Kumar will succeed Ms. Kamerick as Chair of each Fund's Audit Committee.

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Pioneer Floating Rate Trust

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Franklin Templeton Emerging Markets Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Only funds with yields over 6.5%, coverage higher than 85%, and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, August 2022

NEW YORK--(BUSINESS WIRE)--Category: Financials

Western Asset High Income Opportunity Fund Inc. Announces Financial Position as of June 30, 2022

NEW YORK--(BUSINESS WIRE)--Category: Distribution Related

Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Months of September, October, and November 2022

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Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, February 2022: ARDC, HYB, JRI Buy Ratings Affirmed

Western Asset High Income Opportunity Fund Inc. Announces Financial Position as of December 31, 2021

Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Months of March, April and May 2022

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Only funds with yields over 7%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

The 'High-High-Low' Closed-End Fund Report, August 2021

NEW YORK--(BUSINESS WIRE)--Category : Financials

Western Asset High Income Opportunity Fund Inc. Announces Financial Position as of June 30, 2021

HIO looks attractively valued for unleveraged high-yield exposure. HIO yields 7.77% with 94% coverage, -7.89% discount.

HIO Looks Appealing For Unleveraged High-Yield Exposure

News for Western Asset High Income Opportunity Fund Inc ETF (HIO)