Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Sees Significant Decline in Short Interest

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 1,669 shares, a decline of 80.1% from the July 30th total of 8,374 shares. Based on an average daily trading volume, of 71,045 shares, the short-interest ratio is presently 0.0 days.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

Western Asset Global Corporate Defined Opportunity Fund stock remained flat at $10.17 during mid-day trading on Wednesday. The company’s stock had a trading volume of 8,720 shares, compared to its average volume of 33,703. The firm’s 50 day simple moving average is $10.46 and its two-hundred day simple moving average is $10.83. Western Asset Global Corporate Defined Opportunity Fund has a 12-month low of $10.15 and a 12-month high of $12.15.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.122 per share. This represents a c) dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers raised its position in Western Asset Global Corporate Defined Opportunity Fund by 43.6% during the fourth quarter. Cetera Investment Advisers now owns 19,836 shares of the company’s stock valued at $234,000 after purchasing an additional 6,020 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter valued at $84,000. Susquehanna International Group LLP acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth $177,000. UBS Group AG lifted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.7% during the 3rd quarter. UBS Group AG now owns 61,403 shares of the company’s stock worth $729,000 after buying an additional 1,044 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Western Asset Global Corporate Defined Opportunity Fund by 9.3% in the second quarter. Ameriprise Financial Inc. now owns 119,207 shares of the company’s stock valued at $1,396,000 after buying an additional 10,148 shares in the last quarter.

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.