Short Interest in Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Drops By 32.7%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 14,520 shares, a decrease of 32.7% from the January 29th total of 21,570 shares. Based on an average daily volume of 44,520 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 44,520 shares, the short-interest ratio is presently 0.3 days.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of HYI traded down $0.03 during midday trading on Friday, hitting $11.15. The stock had a trading volume of 44,661 shares, compared to its average volume of 43,499. The company has a 50 day simple moving average of $11.15 and a two-hundred day simple moving average of $11.40. Western Asset High Yield Defined Opportunity Fund has a twelve month low of $10.87 and a twelve month high of $12.18.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.095 per share. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Icon Advisers Inc. Co. grew its position in Western Asset High Yield Defined Opportunity Fund by 59.1% in the second quarter. Icon Advisers Inc. Co. now owns 664,463 shares of the company’s stock valued at $7,960,000 after purchasing an additional 246,846 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 6.1% during the 4th quarter. Guggenheim Capital LLC now owns 429,166 shares of the company’s stock worth $4,789,000 after buying an additional 24,709 shares during the last quarter. Uncommon Cents Investing LLC grew its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 0.9% in the 4th quarter. Uncommon Cents Investing LLC now owns 290,650 shares of the company’s stock valued at $3,244,000 after acquiring an additional 2,450 shares in the last quarter. Absolute Investment Advisers LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at about $2,735,000. Finally, Shaker Financial Services LLC boosted its position in 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 purchasing an additional 189,369 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.