Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $10.22 and traded as low as $9.72. Western Asset High Yield Defined Opportunity Fund shares last traded at $9.7420, with a volume of 31,229 shares traded.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The company has a 50-day moving average of $10.22 and a 200-day moving average of $10.50.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a dividend of $0.0950 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.14 annualized dividend and a yield of 11.7%.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the 1st quarter worth about $77,000. Susquehanna International Group LLP purchased a new position in Western Asset High Yield Defined Opportunity Fund in the 2nd quarter valued at about $123,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the second quarter worth about $162,000. Private Management Group Inc. grew its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 37.3% during the second quarter. Private Management Group Inc. now owns 16,623 shares of the company’s stock worth $177,000 after buying an additional 4,513 shares in the last quarter. Finally, Ionic Capital Management LLC acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at approximately $213,000.

Western Asset High Yield Defined Opportunity Fund Company Profile

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) is a closed-end investment fund managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

HYI invests primarily in high-yield corporate debt securities, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include bonds and other debt instruments issued by companies across a range of industries and geographic markets.