HYI Stock Recent News

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.

The Western Asset High Income Fund II is undergoing a rights offering, which has pushed the fund to a deep discount.

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.

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.

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 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.