Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Stock Short Interest Drops 50.2%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 29,687 shares, a decrease of 50.2% from the September 30th total of 59,563 shares. Based on an average daily volume of 59,786 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in HYI. Fifth Third Bancorp purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 1st quarter valued at approximately $77,000. Susquehanna International Group LLP acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the second quarter worth $123,000. Integrated Wealth Concepts LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the second quarter valued at $162,000. Private Management Group Inc. raised its position in Western Asset High Yield Defined Opportunity Fund by 37.3% in the second 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 period. Finally, Calamos Advisors LLC lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock valued at $281,000 after purchasing an additional 3,135 shares during the last quarter.

Western Asset High Yield Defined Opportunity Fund Price Performance

Western Asset High Yield Defined Opportunity Fund stock traded down $0.07 during midday trading on Friday, hitting $9.59. 112,916 shares of the stock were exchanged, compared to its average volume of 63,828. Western Asset High Yield Defined Opportunity Fund has a fifty-two week low of $9.42 and a fifty-two week high of $11.44. The stock’s 50-day simple moving average is $9.96 and its 200 day simple moving average is $10.57.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0950 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.14 annualized dividend and a dividend yield of 11.9%.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) was a closed-end management investment company focused on generating a high level of current income, with capital appreciation as a secondary objective. The fund invested primarily in below-investment-grade, or high-yield, corporate debt securities.

Its portfolio could include bonds and other fixed-income instruments issued by companies across a range of industries and geographic regions, with an emphasis on the U.S. high-yield market.