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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 23,493 shares, a decline of 35.6% from the June 15th total of 36,479 shares. Based on an average trading volume of 74,475 shares, the short-interest ratio is currently 0.3 days.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.3%

Shares of NYSE HYI opened at $10.55 on Friday. Western Asset High Yield Defined Opportunity Fund has a 1-year low of $10.44 and a 1-year high of $12.13. The business’s 50 day moving average is $10.60 and its 200-day moving average is $10.85.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.095 dividend. This represents a c) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

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

A number of hedge funds and other institutional investors have recently modified their holdings of HYI. Royal Bank of Canada raised 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 worth $68,000 after purchasing an additional 2,173 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund during the 3rd quarter worth approximately $73,000. Fifth Third Bancorp bought a new position in shares of Western Asset High Yield Defined Opportunity Fund during the first quarter worth approximately $77,000. Kanen Wealth Management LLC bought a new position in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $112,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $159,000.

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.