Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.61 and traded as high as $10.61. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.58, with a volume of 32,219 shares trading hands.

Western Asset High Yield Defined Opportunity Fund Stock Up 0.2%

The stock’s 50 day simple moving average is $10.61 and its two-hundred day simple moving average is $10.86.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

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) annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend is Monday, August 24th.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Western Asset High Yield Defined Opportunity Fund by 5.1% in the 1st quarter. Bank of America Corp DE now owns 33,611 shares of the company’s stock valued at $359,000 after purchasing an additional 1,635 shares in the last quarter. Royal Bank of Canada grew its position in shares of Western Asset High Yield Defined Opportunity Fund by 55.7% during 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 in the last quarter. Uncommon Cents Investing LLC grew its position in shares of Western Asset High Yield Defined Opportunity Fund by 0.9% during the fourth quarter. Uncommon Cents Investing LLC now owns 290,650 shares of the company’s stock worth $3,244,000 after buying an additional 2,450 shares in the last quarter. Calamos Advisors LLC increased its stake in shares of 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 buying an additional 3,135 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Western Asset High Yield Defined Opportunity Fund by 4.7% during the second quarter. Invesco Ltd. now owns 76,276 shares of the company’s stock worth $914,000 after buying an additional 3,447 shares during the period.

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.