Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.71 and traded as low as $10.49. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.5050, with a volume of 54,135 shares traded.

Western Asset Global Corporate Defined Opportunity Fund Trading Down 0.4%

The stock’s 50-day simple moving average is $10.71 and its two-hundred day simple moving average is $11.09.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.122 dividend. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 13.9%.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Several hedge funds have recently added to or reduced their stakes in GDO. Osaic Holdings Inc. grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 22.3% in the 4th 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 last quarter. Ameriprise Financial Inc. boosted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 14.4% in the third quarter. Ameriprise Financial Inc. now owns 136,424 shares of the company’s stock valued at $1,621,000 after acquiring an additional 17,217 shares during the period. Fiera Capital Corp boosted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 42.6% in the fourth quarter. Fiera Capital Corp now owns 104,687 shares of the company’s stock valued at $1,236,000 after acquiring an additional 31,264 shares during the period. Shaker Financial Services LLC grew its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 181.0% in the fourth quarter. Shaker Financial Services LLC now owns 94,936 shares of the company’s stock worth $1,121,000 after acquiring an additional 61,145 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 44.7% in the fourth quarter. Guggenheim Capital LLC now owns 78,231 shares of the company’s stock worth $924,000 after acquiring an additional 24,150 shares during the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

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.