Short Interest in Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) Expands By 127.6%

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 43,660 shares, an increase of 127.6% from the July 15th total of 19,179 shares. Based on an average daily trading volume, of 66,746 shares, the days-to-cover ratio is currently 0.7 days.

Western Asset High Yield Defined Opportunity Fund Trading Up 0.0%

Shares of NYSE:HYI opened at $10.53 on Friday. Western Asset High Yield Defined Opportunity Fund has a 52-week low of $10.35 and a 52-week high of $12.13. The company has a fifty day moving average of $10.55 and a 200-day moving average of $10.76.

Western Asset High Yield Defined Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 10.8%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Absolute Investment Advisers LLC acquired a new position in Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at approximately $2,735,000. Shaker Financial Services LLC raised its position in shares of Western Asset High Yield Defined Opportunity Fund by 452.8% in the 4th quarter. Shaker Financial Services LLC now owns 231,194 shares of the company’s stock worth $2,580,000 after acquiring an additional 189,369 shares in the last quarter. Jane Street Group LLC increased its holdings in Western Asset High Yield Defined Opportunity Fund by 1,033.4% in the second quarter. Jane Street Group LLC now owns 198,577 shares of the company’s stock worth $2,379,000 after purchasing an additional 181,056 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of Western Asset High Yield Defined Opportunity Fund by 760.0% during the 4th quarter. Wolverine Asset Management LLC now owns 201,953 shares of the company’s stock valued at $2,254,000 after acquiring an additional 178,470 shares during the period. Finally, Quarry LP acquired a new position in shares of Western Asset High Yield Defined Opportunity Fund during the fourth quarter valued at about $1,075,000.

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.