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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 11,338 shares, a decline of 61.1% from the May 31st total of 29,184 shares. Based on an average daily volume of 30,687 shares, the short-interest ratio is presently 0.4 days.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

NYSE:GDO traded up $0.07 during mid-day trading on Monday, reaching $10.73. The stock had a trading volume of 42,341 shares, compared to its average volume of 30,241. Western Asset Global Corporate Defined Opportunity Fund has a one year low of $10.52 and a one year high of $12.15. The firm has a 50 day moving average price of $10.84 and a two-hundred day moving average price of $11.20.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.122 per share. This represents a c) annualized dividend and a yield of 13.6%. The ex-dividend date is Monday, August 24th.

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

A number of hedge funds have recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the first quarter valued at approximately $30,000. Advisory Services Network LLC purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the third quarter worth about $37,000. Kestra Advisory Services LLC bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the fourth quarter valued at approximately $84,000. Van Diest Capital LLC purchased a new position in Western Asset Global Corporate Defined Opportunity Fund during the first quarter valued at $149,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter worth about $177,000.

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.