Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s stock price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $10.09 and traded as low as $9.61. Western Asset High Yield Defined Opportunity Fund shares last traded at $9.66, with a volume of 41,835 shares changing hands.

Western Asset High Yield Defined Opportunity Fund Trading Down 1.3%

The firm’s fifty day moving average price is $10.05 and its two-hundred day moving average price is $10.43.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.0950 per share. The ex-dividend date is Friday, November 20th. This represents a $1.14 annualized dividend and a yield of 12.0%.

Institutional Investors Weigh In On Western Asset High Yield Defined Opportunity Fund

Institutional investors have recently bought and sold shares of the business. Uncommon Cents Investing Inc lifted its holdings in Western Asset High Yield Defined Opportunity Fund by 3.6% in the 3rd quarter. Uncommon Cents Investing Inc now owns 318,945 shares of the company’s stock worth $3,145,000 after purchasing an additional 11,125 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the second quarter valued at approximately $162,000. Bank of America Corp DE lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 5.1% in the 1st quarter. Bank of America Corp DE now owns 33,611 shares of the company’s stock valued at $359,000 after purchasing an additional 1,635 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter valued at approximately $123,000. Finally, Private Management Group Inc. lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 37.3% in the 2nd quarter. Private Management Group Inc. now owns 16,623 shares of the company’s stock valued at $177,000 after purchasing an additional 4,513 shares during the last quarter.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund (NYSE: HYI) is a closed-end investment fund managed by Western Asset Management Company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

HYI invests primarily in below-investment-grade corporate debt, commonly known as high-yield or “junk” bonds. Its portfolio may include bonds and other fixed-income securities issued by companies in a range of industries, with an emphasis on securities that offer higher income in exchange for greater credit risk.

The fund is designed to provide investors with access to professionally managed high-yield credit markets through a publicly traded vehicle.