Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Price Passes Below 50 Day Moving Average of $12.23

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $12.23 and traded as low as $12.16. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $12.21, with a volume of 50,615 shares traded.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

The business’s 50-day moving average is $12.23 and its two-hundred day moving average is $12.41.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 24th will be issued a dividend of $0.122 per share. This represents a $1.46 dividend on an annualized basis and a yield of 11.99%. The ex-dividend date is Wednesday, July 24th.

Institutional Investors Weigh In On Western Asset Global Corporate Defined Opportunity Fund

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 27.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 530,044 shares of the company’s stock valued at $6,769,000 after acquiring an additional 115,072 shares in the last quarter. International Assets Investment Management LLC raised its position in Western Asset Global Corporate Defined Opportunity Fund by 1,048.4% in the 4th quarter. International Assets Investment Management LLC now owns 213,323 shares of the company’s stock valued at $2,724,000 after purchasing an additional 194,748 shares in the last quarter. Sowell Financial Services LLC boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.9% in the 4th quarter. Sowell Financial Services LLC now owns 65,950 shares of the company’s stock valued at $842,000 after buying an additional 1,200 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 4.8% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 43,982 shares of the company’s stock valued at $563,000 after buying an additional 2,020 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth about $464,000.

About Western Asset Global Corporate Defined Opportunity Fund

Western Asset Global Corporate Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd., and Western Asset Management Company Limited.