Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Stock Short Interest Declines 65.4%

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 38,890 shares, a decrease of 65.4% from the September 30th total of 112,344 shares. Based on an average daily volume of 24,474 shares, the days-to-cover ratio is presently 1.6 days.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

Shares of NYSE GDO traded up $0.12 during midday trading on Thursday, reaching $9.61. 36,667 shares of the company traded hands, compared to its average volume of 35,690. The stock has a 50-day moving average price of $9.82 and a 200 day moving average price of $10.65. Western Asset Global Corporate Defined Opportunity Fund has a 52 week low of $9.33 and a 52 week high of $11.93.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.1220 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Noble Wealth Management PBC boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 126.9% during the 3rd quarter. Noble Wealth Management PBC now owns 2,950 shares of the company’s stock worth $28,000 after acquiring an additional 1,650 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the first quarter worth approximately $30,000. CoreCap Advisors LLC purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 2nd quarter worth approximately $64,000. Van Diest Capital LLC purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter valued at $149,000. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.0% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 62,526 shares of the company’s stock valued at $671,000 after acquiring an additional 3,550 shares in the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

Western Asset Global Corporate Defined Opportunity Fund, Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol GDO. The fund seeks to provide current income and total return by investing primarily in a diversified portfolio of global corporate debt securities.

Its portfolio may include investment-grade and below-investment-grade corporate bonds and other fixed-income obligations issued by companies in the United States and international markets. The fund’s global mandate gives it exposure to corporate credit markets across multiple countries and geographic regions, while its closed-end structure allows shares to trade on an exchange after issuance.

Western Asset Global Corporate Defined Opportunity Fund is managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies and affiliated with Franklin Resources.