Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Down 0.1% – Should You Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares fell 0.1% on Friday . The company traded as low as $11.11 and last traded at $11.13. 27,288 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 44,217 shares. The stock had previously closed at $11.14.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.1%

The stock’s 50-day simple moving average is $11.12 and its 200 day simple moving average is $11.57.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.095 dividend. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 10.2%.

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

Several hedge funds have recently bought and sold shares of the stock. Icon Advisers Inc. Co. grew its position in shares of 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. Jane Street Group LLC grew its holdings in Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the 2nd quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock valued at $2,379,000 after buying an additional 181,056 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Western Asset High Yield Defined Opportunity Fund in the 2nd quarter valued at $990,000. Wolverine Asset Management LLC increased its position in Western Asset High Yield Defined Opportunity Fund by 3,743.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 23,483 shares of the company’s stock worth $275,000 after buying an additional 22,872 shares during the period. Finally, Huntleigh Advisors Inc. lifted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 5.4% during the second quarter. Huntleigh Advisors Inc. now owns 380,997 shares of the company’s stock worth $4,564,000 after buying an additional 19,537 shares in the last quarter.

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.