Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Up 168.6% in August

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 37,148 shares, an increase of 168.6% from the August 15th total of 13,829 shares. Based on an average daily volume of 48,105 shares, the short-interest ratio is presently 0.8 days.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.5%

Shares of NYSE HYI opened at $10.15 on Tuesday. Western Asset High Yield Defined Opportunity Fund has a 1 year low of $10.13 and a 1 year high of $12.13. The company’s 50-day moving average is $10.45 and its 200 day moving average is $10.64.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 11.2%.

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

Several hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in Western Asset High Yield Defined Opportunity Fund during the first quarter valued at $77,000. Susquehanna International Group LLP bought a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter worth about $123,000. Integrated Wealth Concepts LLC bought a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 2nd quarter worth about $162,000. Private Management Group Inc. lifted its position in 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 valued at $177,000 after acquiring an additional 4,513 shares during the period. Finally, Ionic Capital Management LLC bought a new stake in Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth about $213,000.

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.