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

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 37,800 shares, a growth of 50.0% from the March 31st total of 25,200 shares. Based on an average daily volume of 43,400 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. lifted its stake in shares of Western Asset High Yield Defined Opportunity Fund by 3.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 911,743 shares of the company’s stock valued at $10,476,000 after purchasing an additional 34,072 shares during the period. Shaker Financial Services LLC bought a new position in Western Asset High Yield Defined Opportunity Fund during the third quarter worth about $1,057,000. City of London Investment Management Co. Ltd. grew its position in shares of Western Asset High Yield Defined Opportunity Fund by 124.1% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 227,736 shares of the company’s stock worth $2,617,000 after buying an additional 126,111 shares during the period. 1607 Capital Partners LLC grew its position in shares of Western Asset High Yield Defined Opportunity Fund by 3.3% during the 3rd quarter. 1607 Capital Partners LLC now owns 135,571 shares of the company’s stock worth $1,558,000 after buying an additional 4,300 shares during the period. Finally, Camelot Portfolios LLC increased its stake in shares of Western Asset High Yield Defined Opportunity Fund by 60.2% in the 4th quarter. Camelot Portfolios LLC now owns 92,036 shares of the company’s stock valued at $1,113,000 after acquiring an additional 34,574 shares during the last quarter.

Western Asset High Yield Defined Opportunity Fund Price Performance

Shares of HYI stock traded up $0.05 during trading hours on Friday, hitting $11.55. 59,643 shares of the company’s stock were exchanged, compared to its average volume of 49,109. The stock’s 50-day moving average is $11.90 and its 200-day moving average is $11.78. Western Asset High Yield Defined Opportunity Fund has a 52 week low of $10.99 and a 52 week high of $12.24.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.095 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 9.87%.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd and Western Asset Management Company Limited.