Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.94 and traded as low as $10.65. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.6770, with a volume of 29,817 shares changing hands.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 0.1%

The stock has a 50 day moving average of $10.94 and a two-hundred day moving average of $11.36.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDO. Royal Bank of Canada raised its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.1% in the 1st quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock valued at $329,000 after acquiring an additional 9,957 shares in the last quarter. Raymond James Financial Inc. increased its position in Western Asset Global Corporate Defined Opportunity Fund by 1.2% in the 2nd quarter. Raymond James Financial Inc. now owns 75,165 shares of the company’s stock worth $887,000 after buying an additional 884 shares during the period. Ameriprise Financial Inc. increased its position in Western Asset Global Corporate Defined Opportunity Fund by 9.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 119,207 shares of the company’s stock worth $1,396,000 after buying an additional 10,148 shares during the period. Fiera Capital Corp increased its position in Western Asset Global Corporate Defined Opportunity Fund by 21.5% in the 3rd quarter. Fiera Capital Corp now owns 73,423 shares of the company’s stock worth $872,000 after buying an additional 12,969 shares during the period. Finally, UBS Group AG increased its position in Western Asset Global Corporate Defined Opportunity Fund by 1.7% in the 3rd quarter. UBS Group AG now owns 61,403 shares of the company’s stock worth $729,000 after buying an additional 1,044 shares during the period.

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.