Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Crosses Below 50 Day Moving Average – What’s Next?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.72 and traded as low as $10.54. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.59, with a volume of 66,376 shares changing hands.

Western Asset High Yield Defined Opportunity Fund Stock Performance

The firm’s 50 day simple moving average is $10.72 and its 200-day simple moving average is $10.94.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company 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 dividend of $0.095 per share. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Western Asset High Yield Defined Opportunity Fund by 55.7% during the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock valued at $68,000 after purchasing an additional 2,173 shares during the period. Advisory Services Network LLC acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the 3rd quarter valued at $73,000. Fifth Third Bancorp acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the 1st quarter valued at $77,000. Kanen Wealth Management LLC acquired a new stake in Western Asset High Yield Defined Opportunity Fund during the 4th quarter valued at $112,000. Finally, MRA Advisory Group raised its stake in Western Asset High Yield Defined Opportunity Fund by 8.2% during the 3rd quarter. MRA Advisory Group now owns 12,558 shares of the company’s stock valued at $147,000 after purchasing an additional 954 shares during the period.

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.