Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Passes Above 50 Day Moving Average – What’s Next?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.11 and traded as high as $11.20. Western Asset High Yield Defined Opportunity Fund shares last traded at $11.13, with a volume of 79,524 shares.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The company’s 50-day moving average is $11.11 and its 200-day moving average is $11.49.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.095 dividend. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date is Friday, February 20th.

Hedge Funds Weigh In On Western Asset High Yield Defined Opportunity Fund

Large investors have recently modified their holdings of the business. Icon Advisers Inc. Co. increased its position in shares of Western Asset High Yield Defined Opportunity Fund by 59.1% during the 2nd quarter. Icon Advisers Inc. Co. now owns 664,463 shares of the company’s stock worth $7,960,000 after purchasing an additional 246,846 shares during the last quarter. Absolute Investment Advisers LLC purchased a new position in Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth about $2,735,000. Shaker Financial Services LLC increased its position in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% during the fourth quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock valued at $2,580,000 after acquiring an additional 189,369 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the 2nd quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock valued at $2,379,000 after acquiring an additional 181,056 shares during the period. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 760.0% in the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock worth $2,254,000 after acquiring an additional 178,470 shares during the last quarter.

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.