Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 5,500 shares, a decline of 74.1% from the December 15th total of 21,200 shares. Based on an average daily trading volume, of 62,300 shares, the days-to-cover ratio is presently 0.1 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. increased its position in Western Asset High Yield Defined Opportunity Fund by 1.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 447,833 shares of the company’s stock worth $6,283,000 after purchasing an additional 4,884 shares during the last quarter. Advisors Asset Management Inc. increased its position in Western Asset High Yield Defined Opportunity Fund by 21.1% in the third quarter. Advisors Asset Management Inc. now owns 29,466 shares of the company’s stock worth $413,000 after purchasing an additional 5,127 shares during the last quarter. Guggenheim Capital LLC increased its position in Western Asset High Yield Defined Opportunity Fund by 20.2% in the third quarter. Guggenheim Capital LLC now owns 127,154 shares of the company’s stock worth $1,784,000 after purchasing an additional 21,349 shares during the last quarter. Shaker Financial Services LLC increased its position in Western Asset High Yield Defined Opportunity Fund by 47.0% in the third quarter. Shaker Financial Services LLC now owns 45,539 shares of the company’s stock worth $639,000 after purchasing an additional 14,557 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Western Asset High Yield Defined Opportunity Fund by 3.5% in the third quarter. Wells Fargo & Company MN now owns 576,548 shares of the company’s stock worth $8,089,000 after purchasing an additional 19,272 shares during the last quarter.

Shares of HYI stock traded down $0.09 during mid-day trading on Wednesday, hitting $15.15. The company had a trading volume of 56,782 shares, compared to its average volume of 50,905. Western Asset High Yield Defined Opportunity Fund has a 52-week low of $9.74 and a 52-week high of $16.46. The stock’s 50 day moving average price is $15.21 and its 200-day moving average price is $14.58.

The business also recently announced a monthly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 19th will be issued a $0.0945 dividend. This represents a $1.13 annualized dividend and a dividend yield of 7.49%. The ex-dividend date is Thursday, February 18th.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd and Western Asset Management Company Limited.

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