Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Update

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 54,749 shares, a growth of 86.6% from the February 26th total of 29,345 shares. Based on an average daily volume of 50,725 shares, the short-interest ratio is presently 1.1 days.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of HYI stock traded down $0.20 during trading on Thursday, reaching $10.57. The company’s stock had a trading volume of 131,892 shares, compared to its average volume of 48,812. Western Asset High Yield Defined Opportunity Fund has a one year low of $10.56 and a one year high of $12.13. The business has a fifty day moving average price of $11.06 and a 200-day moving average price of $11.26.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a $0.095 dividend. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date is Thursday, May 21st.

Hedge Funds Weigh In On Western Asset High Yield Defined Opportunity Fund

A number of large investors have recently modified their holdings of the business. Icon Advisers Inc. Co. grew its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 59.1% in the 2nd quarter. Icon Advisers Inc. Co. now owns 664,463 shares of the company’s stock valued at $7,960,000 after acquiring an additional 246,846 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Western Asset High Yield Defined Opportunity Fund by 6.1% during the fourth quarter. Guggenheim Capital LLC now owns 429,166 shares of the company’s stock worth $4,789,000 after acquiring an additional 24,709 shares in the last quarter. Uncommon Cents Investing LLC raised its holdings in Western Asset High Yield Defined Opportunity Fund by 0.9% during the fourth quarter. Uncommon Cents Investing LLC now owns 290,650 shares of the company’s stock worth $3,244,000 after acquiring an additional 2,450 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at approximately $2,735,000. Finally, Shaker Financial Services LLC boosted its position in Western Asset High Yield Defined Opportunity Fund by 452.8% during the fourth quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock valued at $2,580,000 after purchasing an additional 189,369 shares during 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.