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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO – Get Free Report) 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 traded.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 0.1%

The company has a 50-day simple moving average of $10.94 and a 200 day simple moving average of $11.36.

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Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

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

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter worth approximately $30,000. Advisory Services Network LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth approximately $84,000. Van Diest Capital LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter worth approximately $149,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth approximately $177,000.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

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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.

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