Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Update

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 23,493 shares, a decline of 35.6% from the June 15th total of 36,479 shares. Based on an average daily volume of 74,475 shares, the days-to-cover ratio is currently 0.3 days.

Western Asset High Yield Defined Opportunity Fund Price Performance

NYSE HYI traded down $0.03 on Friday, hitting $10.56. 11,498 shares of the stock traded hands, compared to its average volume of 61,029. The business’s fifty day moving average is $10.60 and its two-hundred day moving average is $10.86. Western Asset High Yield Defined Opportunity Fund has a 12 month low of $10.44 and a 12 month high of $12.13.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.095 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the 1st quarter worth about $207,000. Invesco Ltd. boosted its position in Western Asset High Yield Defined Opportunity Fund by 4.7% during the second quarter. Invesco Ltd. now owns 76,276 shares of the company’s stock worth $914,000 after purchasing an additional 3,447 shares during the period. Bank of America Corp DE increased its stake in shares of Western Asset High Yield Defined Opportunity Fund by 9.9% in the second quarter. Bank of America Corp DE now owns 39,569 shares of the company’s stock worth $474,000 after purchasing an additional 3,562 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Western Asset High Yield Defined Opportunity Fund by 65.0% in the second quarter. Osaic Holdings Inc. now owns 20,792 shares of the company’s stock worth $249,000 after purchasing an additional 8,189 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the third quarter valued at approximately $73,000.

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.