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.

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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.

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

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

Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of February 28, 2021

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The high-yield CEF sector has done well though not as well as other sectors in terms of discount returns in the last month (+1.3%). The sector as a whole is near its long-term fair value with a discount of -5%. But with spreads near the pre-COVID tightest levels, there isn't much upside for NAVs.

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HYI is an unleveraged high yield portfolio; this can make it relatively less volatile than other high yield CEF options. The latest report has been released; in there, we can see that lowered interest rates cut into the fund's distribution coverage.

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The fund's discount remains attractive, as a term dated fund we anticipate this to gradually decline to par as we head into 2025. HYI remains an enticing high-yield fund for those that don't want to deal with 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 August 31, 2020.                             Current Q Previous Q Prior Yr Q August 31, 2020 May 31, 2020 August 31, 2019 Total Net Assets           $        352,045,954  $           334,189,414  $        366,761,646 NAV Per Share of Common Stock (a)   $                   15.54  $                      14.75  $                   16.12 Market Price

Western Asset High Yield Defined Opportunity Fund Inc. Announces Financial Position as of August 31, 2020

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