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 in the month of June. As of June 15th, there was short interest totaling 36,479 shares, a growth of 106.0% from the May 31st total of 17,707 shares. Based on an average trading volume of 67,597 shares, the days-to-cover ratio is presently 0.5 days.

Western Asset High Yield Defined Opportunity Fund Price Performance

Western Asset High Yield Defined Opportunity Fund stock traded up $0.03 during mid-day trading on Tuesday, reaching $10.61. The company had a trading volume of 56,154 shares, compared to its average volume of 60,164. The company has a 50 day moving average of $10.67 and a 200-day moving average of $10.90. Western Asset High Yield Defined Opportunity Fund has a 52 week low of $10.44 and a 52 week high of $12.13.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders 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) annualized dividend and a yield of 10.7%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYI. Royal Bank of Canada lifted its position in shares of Western Asset High Yield Defined Opportunity Fund by 55.7% during the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock worth $68,000 after buying an additional 2,173 shares during the period. Advisory Services Network LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund during the 3rd quarter worth about $73,000. Fifth Third Bancorp bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund during 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 4th quarter valued at $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 about $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.