Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Trading Down 0.7% – Here’s Why

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s stock price was down 0.7% on Monday . The stock traded as low as $11.70 and last traded at $11.74. Approximately 30,778 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 23,339 shares. The stock had previously closed at $11.82.

Western Asset Global Corporate Defined Opportunity Fund Trading Down 0.7%

The company has a fifty day moving average price of $11.68 and a 200 day moving average price of $11.79.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be paid a $0.122 dividend. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Several institutional investors and hedge funds have recently made changes to their positions in GDO. Advisory Services Network LLC purchased a new position in Western Asset Global Corporate Defined Opportunity Fund in the third quarter worth $37,000. Susquehanna International Group LLP bought a new stake in Western Asset Global Corporate Defined Opportunity Fund during the third quarter worth about $177,000. Ameriprise Financial Inc. boosted 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 in the last quarter. UBS Group AG boosted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.7% in the 3rd quarter. UBS Group AG now owns 61,403 shares of the company’s stock worth $729,000 after purchasing an additional 1,044 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 21.5% during the 3rd quarter. Fiera Capital Corp now owns 73,423 shares of the company’s stock valued at $872,000 after purchasing an additional 12,969 shares during 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.