Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.68 and traded as low as $10.49. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.54, with a volume of 48,283 shares traded.

Western Asset High Yield Defined Opportunity Fund Trading Up 0.2%

The company has a 50-day moving average of $10.68 and a 200-day moving average of $10.90.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.095 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Western Asset High Yield Defined Opportunity Fund

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Western Asset High Yield Defined Opportunity Fund by 55.7% in the fourth 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. Advisory Services Network LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 3rd quarter valued at approximately $73,000. Fifth Third Bancorp purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the 1st quarter valued at approximately $77,000. Kanen Wealth Management LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the fourth quarter worth about $112,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at $159,000.

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.