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 drop in short interest in June. As of June 30th, there was short interest totaling 23,493 shares, a drop of 35.6% from the June 15th total of 36,479 shares. Based on an average daily trading volume, of 74,475 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 5.1% during the 1st quarter. Bank of America Corp DE now owns 33,611 shares of the company’s stock worth $359,000 after purchasing an additional 1,635 shares during the last quarter. Calamos Advisors LLC raised its position in shares of 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 valued at $281,000 after buying an additional 3,135 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund during the first quarter valued at approximately $77,000. Kanen Wealth Management LLC purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at approximately $112,000. Finally, Readystate Asset Management LP boosted its position in Western Asset High Yield Defined Opportunity Fund by 120.6% during the fourth quarter. Readystate Asset Management LP now owns 65,882 shares of the company’s stock worth $735,000 after acquiring an additional 36,021 shares during the last quarter.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of NYSE:HYI opened at $10.55 on Friday. Western Asset High Yield Defined Opportunity Fund has a 52-week low of $10.44 and a 52-week high of $12.13. The stock’s fifty day simple moving average is $10.60 and its 200-day simple moving average is $10.85.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The business also recently disclosed 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) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Monday, August 24th.

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.