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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.03 and traded as low as $11.01. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.02, with a volume of 17,030 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

The stock has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $11.43.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.122 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Thursday, May 21st.

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

A number of large investors have recently made changes to their positions in GDO. Fifth Third Bancorp bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter valued at about $30,000. Advisory Services Network LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter valued at about $37,000. Kestra Advisory Services LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter valued at about $84,000. Susquehanna International Group LLP bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter valued at about $177,000. Finally, Cetera Investment Advisers grew its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 43.6% during the 4th 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 during the period.

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.