Short Interest in Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Rises By 168.6%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 37,148 shares, an increase of 168.6% from the August 15th total of 13,829 shares. Based on an average trading volume of 48,105 shares, the short-interest ratio is presently 0.8 days.

Western Asset High Yield Defined Opportunity Fund Price Performance

HYI opened at $10.20 on Friday. The company has a 50-day moving average of $10.46 and a 200-day moving average of $10.65. Western Asset High Yield Defined Opportunity Fund has a 1-year low of $10.15 and a 1-year high of $12.13.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a $0.095 dividend. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kanen Wealth Management LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter worth $112,000. Royal Bank of Canada lifted its position in shares of Western Asset High Yield Defined Opportunity Fund by 55.7% in the 4th quarter. Royal Bank of Canada now owns 6,073 shares of the company’s stock worth $68,000 after buying an additional 2,173 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at about $159,000. Marex Group plc acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at about $182,000. Finally, Advisory Services Network LLC bought a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 3rd quarter valued at about $73,000.

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.