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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.35 and traded as low as $11.23. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.25, with a volume of 49,953 shares.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 0.2 %

The stock has a 50 day moving average price of $11.35 and a 200 day moving average price of $12.07.

Western Asset Global Corporate Defined Opportunity Fund Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 27th will be paid a dividend of $0.122 per share. This represents a dividend yield of 12.93%. This is a positive change from Western Asset Global Corporate Defined Opportunity Fund’s previous dividend of $0.10. The ex-dividend date is Friday, January 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GDO. Fiera Capital Corp grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 4.0% during the 3rd quarter. Fiera Capital Corp now owns 60,454 shares of the company’s stock worth $778,000 after acquiring an additional 2,322 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 48,585 shares of the company’s stock worth $625,000 after purchasing an additional 2,919 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Western Asset Global Corporate Defined Opportunity Fund in the second quarter valued at $250,000. Jane Street Group LLC raised its position in Western Asset Global Corporate Defined Opportunity Fund by 52.2% during the 3rd quarter. Jane Street Group LLC now owns 500,906 shares of the company’s stock worth $6,447,000 after purchasing an additional 171,815 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Western Asset Global Corporate Defined Opportunity Fund by 1,187.0% during the 3rd quarter. International Assets Investment Management LLC now owns 214,993 shares of the company’s stock worth $2,767,000 after buying an additional 198,288 shares during the period.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

Western Asset Global Corporate Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd., and Western Asset Management Company Limited.