Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Crosses Below 50 Day Moving Average – Here’s Why
by Danessa Lincoln · The Markets DailyShares of Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI – Get Free Report) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.10 and traded as low as $10.83. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.8550, with a volume of 74,999 shares trading hands.
Western Asset High Yield Defined Opportunity Fund Stock Performance
The company’s fifty day simple moving average is $11.09 and its two-hundred day simple moving average is $11.30.
Western Asset High Yield Defined Opportunity Fund Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a $0.095 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Thursday, May 21st.
Institutional Trading of Western Asset High Yield Defined Opportunity Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of 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 valued at $68,000 after purchasing an additional 2,173 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the 3rd quarter valued at $73,000. Kanen Wealth Management LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at $112,000. World Investment Advisors bought a new position in Western Asset High Yield Defined Opportunity Fund during the 3rd quarter valued at $139,000. Finally, MRA Advisory Group boosted its holdings in Western Asset High Yield Defined Opportunity Fund by 8.2% during the 3rd quarter. MRA Advisory Group now owns 12,558 shares of the company’s stock worth $147,000 after acquiring an additional 954 shares during the last quarter.
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.