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

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.61 and traded as low as $10.27. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.3250, with a volume of 95,221 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

The company’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $10.97.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.122 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 14.2%.

Hedge Funds Weigh In On Western Asset Global Corporate Defined Opportunity Fund

A number of institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in Western Asset Global Corporate Defined Opportunity Fund by 22.3% in the fourth quarter. Osaic Holdings Inc. now owns 176,944 shares of the company’s stock valued at $2,090,000 after acquiring an additional 32,308 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 14.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 136,424 shares of the company’s stock worth $1,621,000 after purchasing an additional 17,217 shares during the last quarter. Fiera Capital Corp lifted its stake in 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 buying an additional 31,264 shares during the last quarter. Shaker Financial Services LLC boosted its stake in Western Asset Global Corporate Defined Opportunity Fund by 181.0% during the 4th quarter. Shaker Financial Services LLC now owns 94,936 shares of the company’s stock valued at $1,121,000 after purchasing an additional 61,145 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 44.7% during the fourth quarter. Guggenheim Capital LLC now owns 78,231 shares of the company’s stock worth $924,000 after buying an additional 24,150 shares during the period.

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.