Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Share Price Passes Below 50 Day Moving Average – Here’s Why

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.94 and traded as low as $10.65. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.6770, with a volume of 29,817 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Trading Up 0.1%

The business has a fifty day moving average of $10.94 and a 200-day moving average of $11.36.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.122 per share. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GDO. Fifth Third Bancorp acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth about $30,000. Advisory Services Network LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the third quarter worth about $37,000. Kestra Advisory Services LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the fourth quarter worth about $84,000. Van Diest Capital LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth about $149,000. Finally, Susquehanna International Group LLP acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the third 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.