Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.00 and traded as low as $10.60. Western Asset High Yield Defined Opportunity Fund shares last traded at $10.65, with a volume of 61,414 shares traded.

Western Asset High Yield Defined Opportunity Fund Stock Down 0.6%

The stock has a 50-day simple moving average of $11.00 and a 200 day simple moving average of $11.21.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.095 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in 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 during the period. Advisory Services Network LLC acquired a new stake in shares of Western Asset High Yield Defined Opportunity Fund during the third quarter valued at about $73,000. Kanen Wealth Management LLC purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 4th quarter valued at approximately $112,000. World Investment Advisors purchased a new stake in shares of Western Asset High Yield Defined Opportunity Fund in the 3rd quarter valued at approximately $139,000. Finally, MRA Advisory Group lifted its holdings in shares of Western Asset High Yield Defined Opportunity Fund by 8.2% in 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.

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.