Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Cross Above 50 Day Moving Average – Time to Sell?

Shares of Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.61 and traded as high as $10.61. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.58, with a volume of 32,219 shares trading hands.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The business’s 50-day moving average is $10.60 and its 200 day moving average is $10.86.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.095 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date 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 made changes to their positions in the business. Absolute Investment Advisers LLC acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $2,735,000. Shaker Financial Services LLC increased its stake in Western Asset High Yield Defined Opportunity Fund by 452.8% during the 4th quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock worth $2,580,000 after acquiring an additional 189,369 shares during the period. Jane Street Group LLC increased 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 period. Wolverine Asset Management LLC raised its holdings in Western Asset High Yield Defined Opportunity Fund by 760.0% in the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock valued at $2,254,000 after acquiring an additional 178,470 shares in the last quarter. Finally, Quarry LP acquired a new position in Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at $1,075,000.

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.