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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 37,800 shares, an increase of 50.0% from the March 31st total of 25,200 shares. Based on an average trading volume of 43,400 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 0.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 498,754 shares of the company’s stock valued at $5,965,000 after buying an additional 1,972 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 1st quarter valued at about $422,000. Future Financial Wealth Managment LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 1st quarter valued at about $83,000. Gilman Hill Asset Management LLC boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 8.1% in the 1st quarter. Gilman Hill Asset Management LLC now owns 33,175 shares of the company’s stock valued at $397,000 after buying an additional 2,500 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at about $234,000.

Western Asset High Yield Defined Opportunity Fund Price Performance

Western Asset High Yield Defined Opportunity Fund stock remained flat at $11.55 during midday trading on Monday. 84,758 shares of the company’s stock traded hands, compared to its average volume of 49,543. Western Asset High Yield Defined Opportunity Fund has a one year low of $10.99 and a one year high of $12.24. The business’s 50 day moving average price is $11.89 and its 200-day moving average price is $11.79.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Western Asset High Yield Defined Opportunity Fund Company Profile

Western Asset High Yield Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd and Western Asset Management Company Limited.