Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Passes Above 50-Day Moving Average – Here’s Why

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.55 and traded as high as $10.55. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.5260, with a volume of 42,163 shares traded.

Western Asset High Yield Defined Opportunity Fund Price Performance

The stock has a 50-day moving average price of $10.55 and a 200-day moving average price of $10.76.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%.

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

Hedge funds have recently added to or reduced their stakes in the business. Guggenheim Capital LLC increased its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 6.1% in the fourth 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 last quarter. Absolute Investment Advisers LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 4th quarter worth about $2,735,000. Shaker Financial Services LLC lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% during the 4th quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock worth $2,580,000 after buying an additional 189,369 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 760.0% during the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock worth $2,254,000 after buying an additional 178,470 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 1,033.4% during the 2nd quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock worth $2,379,000 after buying an additional 181,056 shares during the period.

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.