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

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.92 and traded as low as $10.74. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.8450, with a volume of 26,251 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Trading Up 0.6%

The firm’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $11.33.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The firm also recently declared 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. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Several large investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.2% during the 2nd quarter. Raymond James Financial Inc. now owns 75,165 shares of the company’s stock worth $887,000 after purchasing an additional 884 shares during the last quarter. UBS Group AG lifted its position in Western Asset Global Corporate Defined Opportunity Fund by 1.7% during the third quarter. UBS Group AG now owns 61,403 shares of the company’s stock worth $729,000 after buying an additional 1,044 shares in the last quarter. Fifth Third Bancorp acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth $30,000. Advisory Services Network LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the third quarter worth $37,000. Finally, Cetera Investment Advisers grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 43.6% in the 4th quarter. Cetera Investment Advisers now owns 19,836 shares of the company’s stock valued at $234,000 after buying an additional 6,020 shares in the last quarter.

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.