Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Cross Above Fifty Day Moving Average – What’s Next?

Shares of Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.12 and traded as high as $11.25. Western Asset High Yield Defined Opportunity Fund shares last traded at $11.22, with a volume of 68,611 shares.

Western Asset High Yield Defined Opportunity Fund Stock Up 0.4%

The firm has a fifty day simple moving average of $11.12 and a 200-day simple moving average of $11.45.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Western Asset High Yield Defined Opportunity Fund during the 1st quarter worth about $207,000. Huntleigh Advisors Inc. lifted its position in 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 acquiring an additional 19,537 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the second quarter worth approximately $132,000. Rockefeller Capital Management L.P. acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the second quarter valued at approximately $990,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Western Asset High Yield Defined Opportunity Fund by 2.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 76,584 shares of the company’s stock worth $917,000 after purchasing an additional 1,825 shares during the period.

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.