Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Shares Break Below Fifty Day Moving Average – Time to Sell?

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $10.05 and traded as low as $9.68. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $9.7310, with a volume of 15,376 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

The business has a 50 day moving average price of $10.05 and a 200 day moving average price of $10.54.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.1220 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.46 dividend on an annualized basis and a yield of 15.0%.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Noble Wealth Management PBC lifted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 126.9% during the third quarter. Noble Wealth Management PBC now owns 2,950 shares of the company’s stock valued at $28,000 after acquiring an additional 1,650 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 62,526 shares of the company’s stock worth $671,000 after purchasing an additional 3,550 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 2nd quarter worth about $64,000. Van Diest Capital LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter worth about $149,000. Finally, Fifth Third Bancorp bought a new position in Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter valued at about $30,000.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

Western Asset Global Corporate Defined Opportunity Fund, Inc (NYSE:GDO) is a closed-end investment fund managed by Western Asset Management Company LLC. The fund seeks to provide investors with current income and the potential for capital appreciation by investing primarily in corporate debt securities issued by companies around the world.

Its portfolio may include investment-grade and below-investment-grade corporate bonds, floating-rate obligations, emerging-market debt and other fixed-income securities.