Short Interest in Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Decreases By 32.7%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 14,520 shares, a drop of 32.7% from the January 29th total of 21,570 shares. Based on an average daily volume of 44,520 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 44,520 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HYI. Icon Advisers Inc. Co. increased its holdings in 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 purchasing an additional 246,846 shares during the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at about $2,735,000. Shaker Financial Services LLC raised its position in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% in the 4th quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock valued at $2,580,000 after acquiring an additional 189,369 shares during the period. Jane Street Group LLC boosted its stake in Western Asset High Yield Defined Opportunity Fund by 1,033.4% during the 2nd quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock worth $2,379,000 after acquiring an additional 181,056 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in Western Asset High Yield Defined Opportunity Fund by 760.0% during the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock worth $2,254,000 after acquiring an additional 178,470 shares during the last quarter.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Western Asset High Yield Defined Opportunity Fund stock traded down $0.03 during trading hours on Friday, reaching $11.15. 44,661 shares of the company’s stock traded hands, compared to its average volume of 43,499. Western Asset High Yield Defined Opportunity Fund has a fifty-two week low of $10.87 and a fifty-two week high of $12.18. The firm’s 50 day moving average is $11.15 and its 200-day moving average is $11.40.

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. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.095 per share. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend is Thursday, May 21st.

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.