Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Sees Large Decrease in Short Interest

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 14,520 shares, a decrease of 32.7% from the January 29th total of 21,570 shares. Based on an average trading volume of 44,520 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 44,520 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kanen Wealth Management LLC purchased a new position in Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at approximately $112,000. Readystate Asset Management LP boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 120.6% in 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 period. Ionic Capital Management LLC bought a new position in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter worth $213,000. 1607 Capital Partners LLC purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at $578,000. Finally, Guggenheim Capital LLC raised its stake in shares of Western Asset High Yield Defined Opportunity Fund by 6.1% during the 4th quarter. Guggenheim Capital LLC now owns 429,166 shares of the company’s stock valued at $4,789,000 after purchasing an additional 24,709 shares during the period.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.7%

Western Asset High Yield Defined Opportunity Fund stock traded down $0.08 during midday trading on Tuesday, reaching $11.02. The stock had a trading volume of 57,328 shares, compared to its average volume of 43,520. Western Asset High Yield Defined Opportunity Fund has a 12 month low of $10.87 and a 12 month high of $12.13. The firm’s 50-day moving average price is $11.15 and its 200 day moving average price is $11.38.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a $0.095 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 10.3%.

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.