Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI – Get Free Report) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 37,148 shares, a growth of 168.6% from the August 15th total of 13,829 shares. Based on an average daily volume of 48,105 shares, the days-to-cover ratio is presently 0.8 days.
Institutional Investors Weigh In On Western Asset High Yield Defined Opportunity Fund
A number of hedge funds have recently added to or reduced their stakes in HYI. Guggenheim Capital LLC boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 6.1% during the fourth quarter. Guggenheim Capital LLC now owns 429,166 shares of the company’s stock valued at $4,789,000 after acquiring an additional 24,709 shares during the period. Jane Street Group LLC increased its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the 2nd quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock worth $2,379,000 after acquiring an additional 181,056 shares during the period. Quarry LP acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter worth about $1,075,000. Invesco Ltd. increased its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 4.7% in the 2nd quarter. Invesco Ltd. now owns 76,276 shares of the company’s stock worth $914,000 after acquiring an additional 3,447 shares during the period. Finally, Readystate Asset Management LP lifted its position in Western Asset High Yield Defined Opportunity Fund by 120.6% in the 4th quarter. Readystate Asset Management LP now owns 65,882 shares of the company’s stock valued at $735,000 after purchasing an additional 36,021 shares during the last quarter.
Western Asset High Yield Defined Opportunity Fund Price Performance
Shares of NYSE HYI opened at $10.20 on Friday. Western Asset High Yield Defined Opportunity Fund has a 12-month low of $10.15 and a 12-month high of $12.13. The stock’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $10.65.
Western Asset High Yield Defined Opportunity Fund Dividend Announcement
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.
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