Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.69 and traded as low as $11.62. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.6350, with a volume of 39,131 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Trading Down 0.0%

The company has a 50-day moving average price of $11.69 and a 200-day moving average price of $11.79.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a $0.122 dividend. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Several institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at $37,000. Susquehanna International Group LLP purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the third quarter valued at $177,000. Royal Bank of Canada lifted its position in Western Asset Global Corporate Defined Opportunity Fund by 54.1% in the first quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock valued at $329,000 after acquiring an additional 9,957 shares during the last quarter. Shaker Financial Services LLC boosted its stake in Western Asset Global Corporate Defined Opportunity Fund by 2.8% in the third quarter. Shaker Financial Services LLC now owns 33,791 shares of the company’s stock valued at $407,000 after acquiring an additional 918 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.7% during the third quarter. UBS Group AG now owns 61,403 shares of the company’s stock worth $729,000 after purchasing an additional 1,044 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.