How Top Traders Are Shifting Western Asst High Incm Opprtnty Fnd Inc. (HIO)

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The 700+ hedge funds and money managers tracked by Insider Monkey have compiled and submitted their 13F filings for the third quarter, which unveiled their equity positions as of September 30. We went through these filings and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO).

Is Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO) going to take off soon? Investors who are in the know are getting slightly more bullish. The number of bullish hedge fund positions increased by 1 in recent months. Western Asst High Incm Opprtnty Fnd Inc. was in 5 hedge funds’ portfolios at the end of the third quarter of 2015. There were 4 hedge funds in our database with Western Asst High Incm Opprtnty Fnd Inc. positions at the end of the prior quarter. At the end of this article we will also compare Western Asst High Incm Opprtnty Fnd Inc. to other stocks including GP Strategies Corporation (NYSE:GPX), Ciner Resources LP (NYSE:OCIR), and First Majestic Silver Corp (NYSE:AG) to get a better sense of its popularity.

Follow Western Asset High Income Opportunity Fund Inc. (NYSE:HIO)

To most stock holders, hedge funds are assumed to be underperforming, outdated investment tools of the past. While there are over 8,000 funds with their doors open at the moment, our researchers choose to focus on the top tier of this group, approximately 700 funds. These hedge fund managers shepherd the lion’s share of the hedge fund industry’s total capital, and by watching their highest performing equity investments, Insider Monkey has come up with many investment strategies that have historically surpassed Mr. Market. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Now, let’s review the fresh action regarding Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO).

What have hedge funds been doing with Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO)?

At the end of the third quarter, a total of 5 of the hedge funds tracked by Insider Monkey were long this stock, a 25% bump up from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings considerably (or had already accumulated large positions).

According to Insider Monkey’s hedge fund database, Saba Capital, managed by Boaz Weinstein, holds the number one position in Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO). Saba Capital has a $16.5 million position in the stock, comprising 1.3% of its 13F portfolio. Coming in second is Pine River Capital Management, led by Brian Taylor, holding a $4.2 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining members of the smart money that hold long positions encompass Clint Carlson’s Carlson Capital, Murray Stahl’s Horizon Asset Management, and Allan Teh’s Kamunting Street Capital.

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