Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.53 and traded as low as $10.36. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.3950, with a volume of 55,384 shares changing hands.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The company’s 50-day moving average price is $10.53 and its two-hundred day moving average price is $10.72.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

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

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Western Asset High Yield Defined Opportunity Fund by 55.7% in the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock worth $68,000 after purchasing an additional 2,173 shares during the period. Advisory Services Network LLC purchased a new position in Western Asset High Yield Defined Opportunity Fund in the third quarter valued at about $73,000. Fifth Third Bancorp bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 1st quarter valued at approximately $77,000. Kanen Wealth Management LLC bought a new stake in Western Asset High Yield Defined Opportunity Fund in the fourth quarter worth approximately $112,000. Finally, Susquehanna International Group LLP acquired a new position in Western Asset High Yield Defined Opportunity Fund during the second quarter worth $123,000.

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.