Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Sees Significant Growth in Short Interest

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 29,345 shares, a growth of 102.1% from the February 12th total of 14,520 shares. Based on an average daily volume of 40,856 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 40,856 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of HYI. Kanen Wealth Management LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the 4th quarter worth $112,000. Readystate Asset Management LP increased its holdings in Western Asset High Yield Defined Opportunity Fund by 120.6% during the fourth quarter. Readystate Asset Management LP now owns 65,882 shares of the company’s stock valued at $735,000 after buying an additional 36,021 shares during the period. Ionic Capital Management LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at about $213,000. 1607 Capital Partners LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund during the 4th quarter valued at about $578,000. Finally, Guggenheim Capital LLC lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 6.1% during the fourth quarter. Guggenheim Capital LLC now owns 429,166 shares of the company’s stock worth $4,789,000 after buying an additional 24,709 shares during the period.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of HYI stock traded down $0.05 during mid-day trading on Thursday, reaching $10.85. 51,797 shares of the company’s stock traded hands, compared to its average volume of 45,371. Western Asset High Yield Defined Opportunity Fund has a 12 month low of $10.83 and a 12 month high of $12.13. The company’s 50-day moving average price is $11.13 and its 200-day moving average price is $11.34.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.095 per share. This represents a c) annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Thursday, May 21st.

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.