Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Up 106.0% in June

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 36,479 shares, a growth of 106.0% from the May 31st total of 17,707 shares. Based on an average daily volume of 67,597 shares, the days-to-cover ratio is currently 0.5 days.

Western Asset High Yield Defined Opportunity Fund Stock Up 0.2%

Shares of HYI stock traded up $0.03 during trading hours on Tuesday, reaching $10.61. 56,154 shares of the stock traded hands, compared to its average volume of 60,164. Western Asset High Yield Defined Opportunity Fund has a 1-year low of $10.44 and a 1-year high of $12.13. The business has a fifty day moving average price of $10.67 and a 200 day moving average price of $10.90.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.095 per share. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC raised its stake in shares of Western Asset High Yield Defined Opportunity Fund by 760.0% during the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock worth $2,254,000 after purchasing an additional 178,470 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at approximately $2,735,000. Shaker Financial Services LLC raised its position in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% in the fourth 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. Calamos Advisors LLC bought a new position in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at approximately $259,000. Finally, Kanen Wealth Management LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter worth $112,000.

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.