Short Interest in Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Drops By 68.3%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 13,829 shares, a decline of 68.3% from the July 30th total of 43,660 shares. Based on an average trading volume of 48,491 shares, the days-to-cover ratio is presently 0.3 days.

Western Asset High Yield Defined Opportunity Fund Price Performance

Shares of HYI stock opened at $10.40 on Thursday. Western Asset High Yield Defined Opportunity Fund has a 12-month low of $10.34 and a 12-month high of $12.13. The business has a 50 day simple moving average of $10.53 and a 200 day simple moving average of $10.72.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.095 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 1,033.4% during 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 during the period. Wolverine Asset Management LLC raised its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 760.0% during the fourth quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock worth $2,254,000 after acquiring an additional 178,470 shares in the last quarter. Quarry LP purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth $1,075,000. 1607 Capital Partners LLC acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at $578,000. Finally, Readystate Asset Management LP grew its stake in Western Asset High Yield Defined Opportunity Fund by 120.6% in the fourth quarter. Readystate Asset Management LP now owns 65,882 shares of the company’s stock valued at $735,000 after purchasing an additional 36,021 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.