Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Down 0.1% – Here’s Why

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares fell 0.1% on Friday . The stock traded as low as $11.11 and last traded at $11.13. 27,288 shares were traded during mid-day trading, a decline of 38% from the average session volume of 44,217 shares. The stock had previously closed at $11.14.

Western Asset High Yield Defined Opportunity Fund Stock Down 0.1%

The business has a fifty day simple moving average of $11.12 and a 200 day simple moving average of $11.56.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a $0.095 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 10.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund during the first quarter valued at approximately $207,000. Huntleigh Advisors Inc. grew its position in Western Asset High Yield Defined Opportunity Fund by 5.4% in the second quarter. Huntleigh Advisors Inc. now owns 380,997 shares of the company’s stock valued at $4,564,000 after acquiring an additional 19,537 shares during the last quarter. Allworth Financial LP bought a new position in shares of Western Asset High Yield Defined Opportunity Fund in the second quarter worth about $132,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter valued at approximately $990,000. Finally, Steward Partners Investment Advisory LLC increased its position in Western Asset High Yield Defined Opportunity Fund by 2.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 76,584 shares of the company’s stock worth $917,000 after purchasing an additional 1,825 shares in the last quarter.

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.