HIO Stock Summary and Trading Ideas (Western Asset High Income Opportunity | NYSE:HIO)

The Fund seeks high current income. Capital appreciation is a secondary objective. In seeking to fulfill its investment objectives, the Fund invests, under normal market conditions, at least 80% of its net assets in high-yield securities and up to 20% in common stock equivalents, including options, warrants and rights.

Western Asset High Income Opportunity trades on the NYSE stock market under the symbol HIO.

As of April 22, 2024, HIO stock price climbed to $3.73 with 170,898 million shares trading.

HIO has a beta of 0.60, meaning it tends to be less sensitive to market movements. HIO has a correlation of 0.35 to the broad based SPY ETF.

HIO has a market cap of $354.72 million. This is considered a Small Cap stock.

In the last 3 years, HIO stock traded as high as $5.43 and as low as $3.52.

HIO has underperformed the market in the last year with a return of +9.1%, while the SPY ETF gained +22.9%. In the last 3 month period, HIO fell short of the market, returning -1.1%, while SPY returned +3.7%. However, in the most recent 2 weeks HIO has outperformed the stock market by returning -3.4%, while SPY returned -3.7%.

HIO support price is $3.69 and resistance is $3.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HIO stock will trade within this expected range on the day.