Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

The stock has a fifty day simple moving average of $10.71 and a 200-day simple moving average of $11.09.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

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

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Shaker Financial Services LLC increased its stake in Western Asset Global Corporate Defined Opportunity Fund by 181.0% in the 4th quarter. Shaker Financial Services LLC now owns 94,936 shares of the company’s stock valued at $1,121,000 after buying an additional 61,145 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 43.6% during the 4th quarter. Cetera Investment Advisers now owns 19,836 shares of the company’s stock worth $234,000 after buying an additional 6,020 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth about $84,000. Advisory Services Network LLC bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at about $37,000. Finally, Susquehanna International Group LLP bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at about $177,000.

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.