Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.10 and traded as low as $10.83. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.8550, with a volume of 74,999 shares changing hands.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.9%

The stock’s 50-day simple moving average is $11.10 and its two-hundred day simple moving average is $11.30.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a $0.095 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund during the second quarter worth approximately $132,000. Icon Advisers Inc. Co. grew its stake in shares of 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 worth $7,960,000 after acquiring an additional 246,846 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Western Asset High Yield Defined Opportunity Fund during the second quarter worth $990,000. Steward Partners Investment Advisory LLC increased its position in Western Asset High Yield Defined Opportunity Fund by 2.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 76,584 shares of the company’s stock worth $917,000 after acquiring an additional 1,825 shares during the period. Finally, Shaker Financial Services LLC raised its stake in Western Asset High Yield Defined Opportunity Fund by 452.8% during the 4th 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.