Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Sees Large Growth in Short Interest

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 6,929 shares, an increase of 426.9% from the August 31st total of 1,315 shares. Based on an average daily trading volume, of 47,020 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GDO. Fifth Third Bancorp purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth $30,000. CoreCap Advisors LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the second quarter worth about $64,000. Van Diest Capital LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth about $149,000. Dynamic Advisor Solutions LLC raised its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.0% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 62,526 shares of the company’s stock worth $671,000 after purchasing an additional 3,550 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in Western Asset Global Corporate Defined Opportunity Fund by 42.6% in the 4th 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 in the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Trading Down 0.8%

Shares of GDO stock traded down $0.07 during mid-day trading on Friday, hitting $9.51. 68,955 shares of the stock were exchanged, compared to its average volume of 35,661. Western Asset Global Corporate Defined Opportunity Fund has a 52-week low of $9.45 and a 52-week high of $12.14. The firm has a fifty day moving average of $10.13 and a 200 day moving average of $10.59.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a $0.1220 dividend. This represents a $1.46 annualized dividend and a yield of 15.4%. The ex-dividend date of this dividend is Friday, November 20th.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

Western Asset Global Corporate Defined Opportunity Fund, Inc (NYSE:GDO) is a closed-end investment fund managed by Western Asset Management Company LLC. The fund seeks to provide investors with current income and the potential for capital appreciation by investing primarily in corporate debt securities issued by companies around the world.

Its portfolio may include investment-grade and below-investment-grade corporate bonds, floating-rate obligations, emerging-market debt and other fixed-income securities.