Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $10.72 and traded as low as $10.61. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.6150, with a volume of 83,600 shares changing hands.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The business has a fifty day simple moving average of $10.72 and a two-hundred day simple moving average of $10.93.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Western Asset High Yield Defined Opportunity Fund by 55.7% in the fourth quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock valued at $68,000 after acquiring an additional 2,173 shares during the last quarter. Advisory Services Network LLC bought a new position in Western Asset High Yield Defined Opportunity Fund in the third quarter valued at approximately $73,000. Fifth Third Bancorp bought a new position in Western Asset High Yield Defined Opportunity Fund in the first quarter valued at approximately $77,000. Kanen Wealth Management LLC bought a new position in Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at approximately $112,000. Finally, Landscape Capital Management L.L.C. bought a new position in Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at approximately $159,000.

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.