Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Stock Short Interest Declines 50.2%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 29,687 shares, a decrease of 50.2% from the September 30th total of 59,563 shares. Based on an average daily volume of 59,786 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYI. Fifth Third Bancorp acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the first quarter worth about $77,000. Susquehanna International Group LLP purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter worth about $123,000. Integrated Wealth Concepts LLC purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter worth about $162,000. Private Management Group Inc. lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 37.3% in the 2nd quarter. Private Management Group Inc. now owns 16,623 shares of the company’s stock valued at $177,000 after purchasing an additional 4,513 shares in the last quarter. Finally, Calamos Advisors LLC lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock valued at $281,000 after purchasing an additional 3,135 shares in the last quarter.

Western Asset High Yield Defined Opportunity Fund Stock Performance

NYSE HYI traded down $0.07 during trading hours on Friday, hitting $9.59. 112,916 shares of the company’s stock were exchanged, compared to its average volume of 63,828. The business’s 50 day moving average is $9.96 and its 200-day moving average is $10.57. Western Asset High Yield Defined Opportunity Fund has a 12-month low of $9.42 and a 12-month high of $11.44.

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 paid a dividend of $0.0950 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.14 dividend on an annualized basis and a yield of 11.9%.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) was a closed-end management investment company focused on generating a high level of current income, with capital appreciation as a secondary objective. The fund invested primarily in below-investment-grade, or high-yield, corporate debt securities.

Its portfolio could include bonds and other fixed-income instruments issued by companies across a range of industries and geographic regions, with an emphasis on the U.S. high-yield market.