Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.68 and traded as low as $11.52. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.5490, with a volume of 31,671 shares traded.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

The company has a 50-day moving average of $11.68 and a 200 day moving average of $11.77.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.122 dividend. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Friday, February 20th.

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

Several hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter valued at $37,000. Kestra Advisory Services LLC bought a new position in Western Asset Global Corporate Defined Opportunity Fund in the fourth quarter valued at $84,000. Susquehanna International Group LLP purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund during the third quarter valued at about $177,000. Royal Bank of Canada lifted its stake in Western Asset Global Corporate Defined Opportunity Fund by 54.1% during the first quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock worth $329,000 after purchasing an additional 9,957 shares during the last quarter. Finally, Shaker Financial Services LLC boosted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 2.8% in the 3rd quarter. Shaker Financial Services LLC now owns 33,791 shares of the company’s stock worth $407,000 after purchasing an additional 918 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.