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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a large 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 Stock Down 0.5%

Shares of NYSE:GDO traded down $0.05 during trading on Friday, hitting $9.57. 17,256 shares of the company were exchanged, compared to its average volume of 35,602. Western Asset Global Corporate Defined Opportunity Fund has a 1-year low of $9.33 and a 1-year high of $11.93. The business’s 50 day moving average is $9.80 and its 200-day moving average is $10.64.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.1220 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 15.3%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset Global Corporate Defined Opportunity Fund

Institutional investors have recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC lifted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 62,526 shares of the company’s stock worth $671,000 after purchasing an additional 3,550 shares during the period. Van Diest Capital LLC acquired a new stake in Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth approximately $149,000. CoreCap Advisors LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 2nd quarter valued at $64,000. Fifth Third Bancorp bought a new stake in Western Asset Global Corporate Defined Opportunity Fund in the first quarter valued at $30,000. Finally, Noble Wealth Management PBC raised its stake in 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 buying an additional 1,650 shares during the period.

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.