Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Sees Significant Decrease in Short Interest

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the target of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 1,815 shares, a drop of 93.9% from the October 15th total of 29,687 shares. Based on an average trading volume of 113,894 shares, the days-to-cover ratio is currently 0.0 days.

Western Asset High Yield Defined Opportunity Fund Trading Down 0.1%

Shares of HYI stock traded down $0.01 on Wednesday, hitting $9.69. 11,877 shares of the stock traded hands, compared to its average volume of 63,666. Western Asset High Yield Defined Opportunity Fund has a twelve month low of $9.42 and a twelve month high of $11.39. The firm’s 50-day moving average price is $9.86 and its two-hundred day moving average price is $10.52.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 60.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,570 shares of the company’s stock worth $4,236,000 after buying an additional 161,767 shares during the last quarter. Uncommon Cents Investing Inc lifted its holdings in Western Asset High Yield Defined Opportunity Fund by 3.6% in the third quarter. Uncommon Cents Investing Inc now owns 318,945 shares of the company’s stock valued at $3,145,000 after acquiring an additional 11,125 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Western Asset High Yield Defined Opportunity Fund in the third quarter worth approximately $905,000. Bank of America Corp DE grew its position in 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 acquiring an additional 1,635 shares during the period. Finally, Calamos Advisors LLC increased its stake in Western Asset High Yield Defined Opportunity Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 26,332 shares of the company’s stock worth $281,000 after acquiring an additional 3,135 shares during the last quarter.

Western Asset High Yield Defined Opportunity Fund Company Profile

Western Asset High Yield Defined Opportunity Fund, Inc. (NYSE: HYI) was a closed-end management investment company focused on generating a high level of current income, with capital appreciation as a secondary objective. The fund invested primarily in below-investment-grade, or high-yield, corporate debt securities. Its portfolio could include bonds and other fixed-income instruments issued by companies across a range of industries and geographic regions, with an emphasis on the U.S. high-yield market.