Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.72 and traded as low as $10.61. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.6150, with a volume of 83,600 shares trading hands.

Western Asset High Yield Defined Opportunity Fund Stock Up 0.2%

The firm’s fifty day moving average is $10.72 and its 200 day moving average is $10.92.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Western Asset High Yield Defined Opportunity Fund by 55.7% during the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock worth $68,000 after buying an additional 2,173 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the third quarter worth approximately $73,000. Fifth Third Bancorp acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the first quarter worth approximately $77,000. Kanen Wealth Management LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $112,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $159,000.

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.