Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Short Interest Down 62.1% in May

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 16,768 shares, a decline of 62.1% from the April 30th total of 44,263 shares. Based on an average trading volume of 46,973 shares, the short-interest ratio is presently 0.4 days.

Western Asset High Yield Defined Opportunity Fund Stock Performance

Shares of HYI stock opened at $10.63 on Friday. The business has a 50 day moving average of $10.74 and a two-hundred day moving average of $10.98. Western Asset High Yield Defined Opportunity Fund has a 52 week low of $10.44 and a 52 week high of $12.13.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.095 dividend. This represents a c) dividend on an annualized basis and a yield of 10.7%. The ex-dividend date is Monday, August 24th.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of HYI. Absolute Investment Advisers LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund in the fourth quarter valued at approximately $2,735,000. Shaker Financial Services LLC boosted its stake in Western Asset High Yield Defined Opportunity Fund by 452.8% in the fourth quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock valued at $2,580,000 after acquiring an additional 189,369 shares during the period. Jane Street Group LLC boosted its stake in Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the second quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock valued at $2,379,000 after acquiring an additional 181,056 shares during the period. Wolverine Asset Management LLC boosted its stake in Western Asset High Yield Defined Opportunity Fund by 760.0% in the fourth quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock valued at $2,254,000 after acquiring an additional 178,470 shares during the period. Finally, Quarry LP acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth approximately $1,075,000.

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.