Western Asset Mortgage Opportunity Fund (NYSE:DMO) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.73 and traded as high as $12.00. Western Asset Mortgage Opportunity Fund shares last traded at $11.95, with a volume of 55,920 shares traded.

Western Asset Mortgage Opportunity Fund Trading Up 0.0%

The firm has a 50-day moving average of $11.73 and a 200-day moving average of $11.73.

Western Asset Mortgage Opportunity Fund Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a $0.13 dividend. This represents a dividend yield of 13.09%. The ex-dividend date was Monday, June 23rd.

Institutional Investors Weigh In On Western Asset Mortgage Opportunity Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Western Asset Mortgage Opportunity Fund in the fourth quarter valued at about $842,000. Comerica Bank grew its stake in shares of Western Asset Mortgage Opportunity Fund by 2,631.8% in the fourth quarter. Comerica Bank now owns 9,015 shares of the investment management company’s stock worth $106,000 after purchasing an additional 8,685 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Western Asset Mortgage Opportunity Fund by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 205,413 shares of the investment management company’s stock worth $2,424,000 after purchasing an additional 4,573 shares during the last quarter. LPL Financial LLC increased its holdings in Western Asset Mortgage Opportunity Fund by 6.8% during the 4th quarter. LPL Financial LLC now owns 88,230 shares of the investment management company’s stock valued at $1,041,000 after purchasing an additional 5,627 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Western Asset Mortgage Opportunity Fund by 18.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,911 shares of the investment management company’s stock valued at $259,000 after purchasing an additional 3,391 shares during the last quarter.

Western Asset Mortgage Opportunity Fund Company Profile

Western Asset Mortgage Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed Western Asset Management Company and Western Asset Management Company Limited. It invests in the fixed income markets of the United States.