Western Asset High Yield Defined Opportunity Fund (NYSE:HYI) Share Price Passes Below 50 Day Moving Average – Should You Sell?

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE:HYI) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $12.06 and traded as low as $11.91. Western Asset High Yield Defined Opportunity Fund shares last traded at $11.96, with a volume of 24,185 shares traded.

Western Asset High Yield Defined Opportunity Fund Price Performance

The stock’s 50-day simple moving average is $12.05 and its two-hundred day simple moving average is $12.02.

Western Asset High Yield Defined Opportunity Fund Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be given a $0.095 dividend. The ex-dividend date is Friday, January 24th.

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

Several hedge funds have recently modified their holdings of HYI. B. Riley Wealth Advisors Inc. purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the second quarter worth $128,000. Sanctuary Advisors LLC purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the second quarter worth $180,000. MRA Advisory Group purchased a new position in shares of Western Asset High Yield Defined Opportunity Fund in the third quarter worth $136,000. Future Financial Wealth Managment LLC purchased a new stake in Western Asset High Yield Defined Opportunity Fund during the third quarter valued at $79,000. Finally, Gilman Hill Asset Management LLC raised its stake in Western Asset High Yield Defined Opportunity Fund by 20.0% during the third quarter. Gilman Hill Asset Management LLC now owns 24,800 shares of the company’s stock valued at $307,000 after purchasing an additional 4,125 shares in the last quarter.

About Western Asset High Yield Defined Opportunity Fund

Western Asset High Yield Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd and Western Asset Management Company Limited.