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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 43,660 shares, an increase of 127.6% from the July 15th total of 19,179 shares. Based on an average daily volume of 66,746 shares, the short-interest ratio is presently 0.7 days.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of Western Asset High Yield Defined Opportunity Fund stock traded up $0.01 during trading on Friday, hitting $10.53. The company’s stock had a trading volume of 30,202 shares, compared to its average volume of 60,964. Western Asset High Yield Defined Opportunity Fund has a 52 week low of $10.35 and a 52 week high of $12.13. The stock has a 50-day moving average price of $10.55 and a two-hundred day moving average price of $10.76.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a $0.095 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Friday, November 20th.

Institutional Investors Weigh In On Western Asset High Yield Defined Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Western Asset High Yield Defined Opportunity Fund by 55.7% in the fourth quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock valued at $68,000 after acquiring an additional 2,173 shares during the last quarter. Advisory Services Network LLC bought a new position in Western Asset High Yield Defined Opportunity Fund during the 3rd quarter worth approximately $73,000. Fifth Third Bancorp acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 1st quarter worth approximately $77,000. Kanen Wealth Management LLC acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter worth approximately $112,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at $159,000.

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.