Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Update

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 54,749 shares, a growth of 86.6% from the February 26th total of 29,345 shares. Based on an average trading volume of 50,725 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Icon Advisers Inc. Co. lifted its position in Western Asset High Yield Defined Opportunity Fund by 59.1% in the 2nd quarter. Icon Advisers Inc. Co. now owns 664,463 shares of the company’s stock valued at $7,960,000 after acquiring an additional 246,846 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Western Asset High Yield Defined Opportunity Fund during the 2nd quarter worth about $990,000. Absolute Investment Advisers LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at about $2,735,000. Shaker Financial Services LLC raised its stake in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% in the 4th quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock valued at $2,580,000 after purchasing an additional 189,369 shares during the period. Finally, Savvy Advisors Inc. bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at about $163,000.

Western Asset High Yield Defined Opportunity Fund Trading Down 1.8%

Shares of NYSE:HYI traded down $0.20 during trading on Thursday, hitting $10.57. 131,892 shares of the company’s stock traded hands, compared to its average volume of 48,812. The company has a 50-day moving average price of $11.06 and a 200-day moving average price of $11.26. Western Asset High Yield Defined Opportunity Fund has a 52 week low of $10.56 and a 52 week high of $12.13.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.095 per share. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date is Thursday, May 21st.

Western Asset High Yield Defined Opportunity Fund Company Profile

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.