Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Cross Below 50 Day Moving Average – Time to Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.68 and traded as low as $10.49. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.54, with a volume of 48,283 shares traded.

Western Asset High Yield Defined Opportunity Fund Price Performance

The business has a 50 day moving average of $10.68 and a 200 day moving average of $10.90.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.095 dividend. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Western Asset High Yield Defined Opportunity Fund by 5.1% during the 1st quarter. Bank of America Corp DE now owns 33,611 shares of the company’s stock valued at $359,000 after acquiring an additional 1,635 shares in the last quarter. Calamos Advisors LLC lifted its stake in Western Asset High Yield Defined Opportunity Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock worth $281,000 after purchasing an additional 3,135 shares during the period. Fifth Third Bancorp bought a new position in Western Asset High Yield Defined Opportunity Fund during the first quarter worth about $77,000. Kanen Wealth Management LLC acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at approximately $112,000. Finally, Readystate Asset Management LP grew its stake in shares of Western Asset High Yield Defined Opportunity Fund by 120.6% in the 4th quarter. Readystate Asset Management LP now owns 65,882 shares of the company’s stock valued at $735,000 after purchasing an additional 36,021 shares during the period.

About Western Asset High Yield Defined Opportunity Fund

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.