Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Cross Below 50 Day Moving Average – What’s Next?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.40 and traded as low as $10.11. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.14, with a volume of 61,359 shares.

Western Asset High Yield Defined Opportunity Fund Stock Down 1.3%

The firm’s fifty day moving average is $10.37 and its 200-day moving average is $10.58.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.0950 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.14 annualized dividend and a dividend yield of 11.6%.

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 HYI. Fifth Third Bancorp bought a new stake in Western Asset High Yield Defined Opportunity Fund in the first quarter worth approximately $77,000. Susquehanna International Group LLP acquired a new position in Western Asset High Yield Defined Opportunity Fund in the second quarter valued at approximately $123,000. Integrated Wealth Concepts LLC bought a new position in shares of Western Asset High Yield Defined Opportunity Fund during the 2nd quarter worth approximately $162,000. Private Management Group Inc. boosted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 37.3% during the 2nd quarter. Private Management Group Inc. now owns 16,623 shares of the company’s stock worth $177,000 after buying an additional 4,513 shares in the last quarter. Finally, Ionic Capital Management LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 4th quarter worth approximately $213,000.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) is a closed-end investment fund managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

HYI invests primarily in high-yield corporate debt securities, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include bonds and other debt instruments issued by companies across a range of industries and geographic markets.