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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 54,749 shares, an increase of 86.6% from the February 26th total of 29,345 shares. Based on an average daily volume of 50,725 shares, the days-to-cover ratio is presently 1.1 days.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.7%

NYSE:HYI traded down $0.08 on Friday, hitting $10.49. The stock had a trading volume of 81,686 shares, compared to its average volume of 49,368. Western Asset High Yield Defined Opportunity Fund has a 1 year low of $10.48 and a 1 year high of $12.13. The firm’s fifty day simple moving average is $11.04 and its two-hundred day simple moving average is $11.25.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 10.9%.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in Western Asset High Yield Defined Opportunity Fund by 55.7% in the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock valued at $68,000 after purchasing an additional 2,173 shares during the period. Advisory Services Network LLC purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 3rd quarter worth about $73,000. Kanen Wealth Management LLC bought a new position in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at about $112,000. World Investment Advisors purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the third quarter worth about $139,000. Finally, MRA Advisory Group raised its position in Western Asset High Yield Defined Opportunity Fund by 8.2% in the third quarter. MRA Advisory Group now owns 12,558 shares of the company’s stock worth $147,000 after acquiring an additional 954 shares during the period.

Western Asset High Yield Defined Opportunity Fund Company Profile

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.