A real univariate polynomial of degree n is called hyperbolic if all of its n roots are on the real line. We study families of hyperbolic polynomials defined by k linear conditions on the coefficients. We show that the polynomials corresponding to local extreme points of such families have at most k distinct roots. Furthermore, we find that generically the convex hull of such a family is a polyhedron. Building on these results, we give consequences of our results to the study of symmetric real varieties and symmetric semi-algebraic sets. Here, we show that sets defined by symmetric polynomials which can be expressed sparsely in terms of elementary symmetric polynomials can be sampled on points with few distinct coordinates. This in turn allows for algorithmic simplifications, for example to verify that such polynomials are non-negative or that a semi-algebraic set defined by such polynomials is empty.