Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Sees Large Decrease in Short Interest

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 16,686 shares, a decrease of 56.0% from the November 30th total of 37,899 shares. Based on an average daily trading volume, of 83,060 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 83,060 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Western Asset High Yield Defined Opportunity Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYI. Icon Advisers Inc. Co. grew its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 59.1% in the second quarter. Icon Advisers Inc. Co. now owns 664,463 shares of the company’s stock valued at $7,960,000 after acquiring an additional 246,846 shares in the last quarter. Jane Street Group LLC boosted its position in Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the second quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock worth $2,379,000 after purchasing an additional 181,056 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Western Asset High Yield Defined Opportunity Fund in the second quarter worth $990,000. Wolverine Asset Management LLC grew its stake in Western Asset High Yield Defined Opportunity Fund by 3,743.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 23,483 shares of the company’s stock valued at $275,000 after purchasing an additional 22,872 shares during the period. Finally, Huntleigh Advisors Inc. grew its stake in Western Asset High Yield Defined Opportunity Fund by 5.4% in the 2nd quarter. Huntleigh Advisors Inc. now owns 380,997 shares of the company’s stock valued at $4,564,000 after purchasing an additional 19,537 shares during the period.

Western Asset High Yield Defined Opportunity Fund Price Performance

HYI traded up $0.03 during mid-day trading on Friday, reaching $11.12. 24,187 shares of the stock were exchanged, compared to its average volume of 58,935. Western Asset High Yield Defined Opportunity Fund has a 1 year low of $10.87 and a 1 year high of $12.22. The company has a 50 day moving average price of $11.19 and a two-hundred day moving average price of $11.64.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.095 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 10.3%.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) is a diversified closed-end management investment company that seeks to provide shareholders with a high level of current income and the potential for capital appreciation. Organized under the Investment Company Act of 1940, the fund pursues its objective by investing primarily in below-investment-grade fixed income securities, including high yield corporate debt, convertible bonds and other credit instruments. Its portfolio may also include unrated debt securities that the adviser deems to be of comparable quality.

Under normal market conditions, the fund allocates at least 80% of its managed assets to high yield securities issued by U.S.