Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Shares Break Below 50 Day Moving Average – Should You Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $10.31 and traded as low as $9.86. Western Asset High Yield Defined Opportunity Fund shares last traded at $9.88, with a volume of 68,321 shares trading hands.

Western Asset High Yield Defined Opportunity Fund Stock Down 1.0%

The company’s fifty day moving average price is $10.30 and its 200-day moving average price is $10.55.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.0950 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 5.1% in the first quarter. Bank of America Corp DE now owns 33,611 shares of the company’s stock worth $359,000 after buying an additional 1,635 shares during the period. Calamos Advisors LLC boosted its holdings in Western Asset High Yield Defined Opportunity Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock valued at $281,000 after acquiring an additional 3,135 shares during the period. Ionic Capital Management LLC bought a new position in Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at $213,000. Private Management Group Inc. grew its position in Western Asset High Yield Defined Opportunity Fund by 37.3% in 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 last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the second quarter worth $162,000.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund, Inc (NYSE: HYI) is a closed-end investment fund managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

HYI invests primarily in high-yield corporate debt securities, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include bonds and other debt instruments issued by companies across a range of industries and geographic markets.