Western Asset High Yield Defined Opportunity Fund Inc

Western Asset High Yield Defined Opportunity Fund, Inc. is a non-diversified, limited-term, closed-end management fund, which engages in the investment activities focusing on fixed securities. It seeks high income, with a capital appreciation as a secondary objective. The company was founded on July 20, 2010 and is headquartered in New York, NY.

Western Asset High Yield Defined Opportunity Fund, Inc. is a closed-end management investment company. It engages in the business of investing in a portfolio of high-yield corporate fixed income securities with varying maturities. The company was founded on July 20, 2010 and is headquartered in New York, NY.

NEW YORK--(BUSINESS WIRE)--Category: Financials.

Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of February 29, 2024

Western Asset High Yield Defined Opportunity Fund is a closed-end fund scheduled to be liquidated in 18 months. The fund's current yield of 9.52% compares well to similar options in the market. HYI's performance has been disappointing, but investors purchasing it today should realize some gains upon liquidation unless interest rates do not fall at all.

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NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI) Announces Portfolio Management Team Update

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NEW YORK--(BUSINESS WIRE)--Category: Distribution Related.

Franklin Templeton Fund Adviser, LLC Announces Distributions for the Months of March, April and May 2024

The Western Asset High Yield Defined Opportunity Fund offers investors exposure to high-yield corporate debt. The fund provides a respectable yield with relatively strong distribution coverage despite using no borrowings. The fund's current discount is fairly attractive but has narrowed since our prior update.

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Stocks were up slightly as the jobs report shifted the narrative towards 'higher for longer.' The payroll report came in stronger than expected, but the narrative was that it was a hawkish report, meaning higher rates for longer. Discounts for CEFs continue to tread water, with real estate and interest rate-sensitive bond sectors performing well, while emerging market equity and convertibles performed poorly.

CEF Weekly Commentary | December 10, 2023 | High Quality Opportunities

Leveraged closed-end funds are facing headwinds of rising costs associated with leverage in a higher interest rate environment. The Western Asset High Yield Defined Opportunity Fund offers exposure to a high-yield bond portfolio with an attractive discount while being a term fund. HYI's income has been growing with rising yields, and the fund recently increased its distribution, making it a potentially attractive investment.

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The Board of each Fund announced today the appointment of Eileen Kamerick as Lead Independent Director, effective November 8, 2022. Ms. Kamerick replaces William Hutchinson, the former Lead Independent Director of the Funds, who recently passed away. The Boards also announced that Nisha Kumar will succeed Ms. Kamerick as Chair of each Fund's Audit Committee.

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HYI is a fixed-income closed-end fund. What makes HYI stand out is its term structure, with the fund set to terminate on or about September 30, 2025.

HYI: When High Returns Are Not Forever

NEW YORK--(BUSINESS WIRE)--Category: Financials

Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of August 31, 2022

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The market environment of high volatility and rising short-term rates has lowered the income-generating capacity of most CEFs. In this article, we highlight the five types of CEFs whose incomes have either been unaffected or have actually improved this year.

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HYI is a non-leveraged fund that operates in the high-yield space. During times of volatility and higher interest rates, no leverage can be a benefit.

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Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

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NEW YORK--(BUSINESS WIRE)--Category: Distribution Related

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NEW YORK--(BUSINESS WIRE)--Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI) today announced the financial position of the Fund as of February 28, 2022.   Current Q Previous Q Prior Yr Q February 28, 2022 November 30, 2021 February 28, 2021 Total Net Assets $ 332,241,601   $ 347,420,888   $ 359,595,556   NAV Per Share of Common Stock (a) $ 14.66   $ 15.33   $ 15.88   Market Price Per Share $ 14.18   $ 15.31   $ 15.40   Premium / (Discount)   (3.27 )%   (0.13 )%   (3.02 )% Outst

Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of February 28, 2022

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HYI and HYB both offer exposure to a portfolio in the high yield space; high yield bonds provide reduced interest rate sensitivity. One of the primary differences is that HYB is leveraged while HYI is non-leveraged and term structured.

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We review CEF market valuation and performance over the third full week of October and highlight recent market events. Equity-linked CEF sectors have been supported by strength in equities while higher-quality fixed-income sectors continue to face the headwind of higher Treasury yields.

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Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of August 31, 2021

HYI is a non-leveraged, high-yield focused term structure closed-end fund. The latest report shows more weakness in net investment income coverage - however, it isn't just this fund but across the fixed-income space.

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We regularly cover HYI as it is one of the solid choices in the high yield space that also don't utilize leverage.

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NEW YORK--(BUSINESS WIRE)--Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI) today announced the financial position of the Fund as of February 28, 2021. Current Q Previous Q Prior Yr Q February 28, 2021 November 30, 2020 February 29, 2020 Total Net Assets $ 359,595,556   $ 358,675,553   $ 363,088,765   NAV Per Share of Common Stock (a) $ 15.88   $ 15.83   $ 15.96   Market Price Per Share $ 15.40   $ 15.22   $ 15.80   Premium / (Discount)   (3.02 )%   (3.85 )%   (1.00 )% Outstan

News for Western Asset High Yield Defined Opportunity Fund Inc ETF (HYI)