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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI – Get Rating) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 1,600 shares, a decrease of 59.0% from the April 30th total of 3,900 shares. Based on an average daily volume of 59,700 shares, the days-to-cover ratio is presently 0.0 days.

Western Asset High Yield Defined Opportunity Fund Price Performance

Shares of NYSE HYI opened at $11.22 on Friday. Western Asset High Yield Defined Opportunity Fund has a 1 year low of $11.15 and a 1 year high of $13.04. The firm has a 50-day moving average of $11.64 and a 200 day moving average of $12.07.

Western Asset High Yield Defined Opportunity Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 23rd will be paid a dividend of $0.094 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 10.06%. The ex-dividend date is Thursday, June 22nd.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

A number of hedge funds have recently made changes to their positions in HYI. Freedom Wealth Alliance LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the 4th quarter valued at about $25,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at approximately $41,000. JPMorgan Chase & Co. bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the first quarter valued at approximately $56,000. NewEdge Advisors LLC raised its holdings in Western Asset High Yield Defined Opportunity Fund by 2,197.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,567 shares of the company’s stock worth $122,000 after acquiring an additional 10,107 shares during the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in Western Asset High Yield Defined Opportunity Fund in the 2nd quarter valued at approximately $137,000.

Western Asset High Yield Defined Opportunity Fund Company Profile

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Western Asset High Yield Defined Opportunity Fund, Inc is a non-diversified, limited-term, closed-end management fund, which engages in the investment activities focusing on fixed securities. It seeks high income, with a capital appreciation as a secondary objective. The company was founded on July 20, 2010 and is headquartered in New York, NY.