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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 11,338 shares, a decline of 61.1% from the May 31st total of 29,184 shares. Based on an average daily volume of 30,687 shares, the short-interest ratio is presently 0.4 days.

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

Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.1% in the first quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock valued at $329,000 after acquiring an additional 9,957 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.2% in the 2nd quarter. Raymond James Financial Inc. now owns 75,165 shares of the company’s stock valued at $887,000 after acquiring an additional 884 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 9.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 119,207 shares of the company’s stock valued at $1,396,000 after acquiring an additional 10,148 shares during the period. UBS Group AG raised its position in Western Asset Global Corporate Defined Opportunity Fund by 1.7% in the 3rd quarter. UBS Group AG now owns 61,403 shares of the company’s stock valued at $729,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at $177,000.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

Western Asset Global Corporate Defined Opportunity Fund stock opened at $10.66 on Friday. Western Asset Global Corporate Defined Opportunity Fund has a fifty-two week low of $10.52 and a fifty-two week high of $12.15. The stock has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $11.21.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

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

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.