HIO

Western Asset High Income Opportunity Fund, Inc. (HIO) is a non-diversified, closed-end management investment company that seeks to provide high current income to its shareholders. The fund invests primarily in below-investment-grade debt securities, commonly known as high-yield or "junk" bonds, including corporate bonds, debentures, notes, and other fixed-income instruments. HIO is managed by Western Asset Management Company, LLC, a subsidiary of Franklin Resources, Inc., which serves as the fund's investment adviser and brings extensive expertise in fixed-income portfolio management. The fund employs a strategic approach that combines fundamental credit analysis with top-down macroeconomic perspectives to identify attractive opportunities across various sectors and maturities within the high-yield market. HIO may also invest in loans, distressed securities, and emerging market debt to enhance income generation and total return potential. The fund utilizes leverage as part of its investment strategy to seek to enhance returns, though this approach also increases risk and volatility. As of recent reporting, the fund maintains a diverse portfolio spanning multiple industries including telecommunications, energy, healthcare, and financial services. HIO trades on the New York Stock Exchange and provides monthly distributions to shareholders, making it a consideration for income-focused investors seeking exposure to the high-yield fixed-income market through a professionally managed closed-end fund structure.