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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 23,493 shares, a decrease of 35.6% from the June 15th total of 36,479 shares. Based on an average trading volume of 74,475 shares, the short-interest ratio is currently 0.3 days.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of HYI traded down $0.03 on Friday, reaching $10.56. 11,498 shares of the company’s stock traded hands, compared to its average volume of 61,029. The stock’s 50 day simple moving average is $10.60 and its two-hundred day simple moving average is $10.86. Western Asset High Yield Defined Opportunity Fund has a 52-week low of $10.44 and a 52-week high of $12.13.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.095 dividend. This represents a c) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Monday, August 24th.

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

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings 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 worth $359,000 after buying an additional 1,635 shares during the last quarter. Royal Bank of Canada increased its holdings in Western Asset High Yield Defined Opportunity Fund by 55.7% during the fourth quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock worth $68,000 after buying an additional 2,173 shares during the last quarter. Uncommon Cents Investing LLC raised its position in Western Asset High Yield Defined Opportunity Fund by 0.9% in the fourth quarter. Uncommon Cents Investing LLC now owns 290,650 shares of the company’s stock worth $3,244,000 after acquiring an additional 2,450 shares during the period. Calamos Advisors LLC raised its position in Western Asset High Yield Defined Opportunity Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock worth $281,000 after acquiring an additional 3,135 shares during the period. Finally, Invesco Ltd. boosted its stake in Western Asset High Yield Defined Opportunity Fund by 4.7% in the second quarter. Invesco Ltd. now owns 76,276 shares of the company’s stock valued at $914,000 after acquiring an additional 3,447 shares during the last quarter.

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.