Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.68 and traded as low as $11.52. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.5490, with a volume of 31,671 shares changing hands.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

The business has a 50 day moving average price of $11.68 and a 200 day moving average price of $11.77.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a $0.122 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 12.7%.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth $37,000. Kestra Advisory Services LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the fourth quarter worth about $84,000. Susquehanna International Group LLP acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the third quarter worth about $177,000. Royal Bank of Canada lifted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.1% during the 1st quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock valued at $329,000 after purchasing an additional 9,957 shares in the last quarter. Finally, Shaker Financial Services LLC grew its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 2.8% in the 3rd quarter. Shaker Financial Services LLC now owns 33,791 shares of the company’s stock valued at $407,000 after purchasing an additional 918 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.