Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.91 and traded as low as $10.65. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.6850, with a volume of 58,620 shares.

Western Asset Global Corporate Defined Opportunity Fund Trading Up 0.2%

The company has a fifty day moving average of $10.90 and a two-hundred day moving average of $11.24.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.122 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 13.7%.

Institutional Investors Weigh In On Western Asset Global Corporate Defined Opportunity Fund

Several institutional investors have recently made changes to their positions in GDO. Van Diest Capital LLC purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter worth about $149,000. Fifth Third Bancorp purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth about $30,000. Guggenheim Capital LLC raised its position in Western Asset Global Corporate Defined Opportunity Fund by 44.7% in the 4th quarter. Guggenheim Capital LLC now owns 78,231 shares of the company’s stock worth $924,000 after purchasing an additional 24,150 shares during the period. Cetera Investment Advisers lifted its stake in Western Asset Global Corporate Defined Opportunity Fund by 43.6% in the fourth quarter. Cetera Investment Advisers now owns 19,836 shares of the company’s stock worth $234,000 after purchasing an additional 6,020 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 22.3% during the fourth quarter. Osaic Holdings Inc. now owns 176,944 shares of the company’s stock valued at $2,090,000 after buying an additional 32,308 shares during the period.

About Western Asset Global Corporate Defined Opportunity Fund

The Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues a broadly diversified portfolio of corporate debt instruments, investing across investment-grade and below investment-grade securities issued by corporations worldwide. Through an actively managed strategy, GDO aims to capture opportunities arising from market dislocations, credit spreads and interest rate movements.

GDO’s investment approach is built around a global credit platform, allowing the fund to allocate capital across various sectors, regions and credit-quality levels.