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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.68 and traded as low as $10.49. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.54, with a volume of 48,283 shares traded.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The firm’s 50-day simple moving average is $10.68 and its 200-day simple moving average is $10.90.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.095 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 10.8%.

Hedge Funds Weigh In On Western Asset High Yield Defined Opportunity Fund

Several institutional investors and hedge funds have recently bought and sold shares of HYI. Bank of America Corp DE lifted its position in Western Asset High Yield Defined Opportunity Fund by 5.1% in the first 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. Calamos Advisors LLC raised its holdings in Western Asset High Yield Defined Opportunity Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock valued at $281,000 after buying an additional 3,135 shares during the last quarter. Fifth Third Bancorp bought a new stake in Western Asset High Yield Defined Opportunity Fund during the 1st quarter valued at $77,000. Kanen Wealth Management LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the 4th quarter valued at $112,000. Finally, Readystate Asset Management LP boosted its position in Western Asset High Yield Defined Opportunity Fund by 120.6% during the 4th 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.

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.