Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.32 and traded as low as $10.97. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.05, with a volume of 45,983 shares traded.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 0.9 %

The firm has a fifty day moving average price of $11.31 and a 200 day moving average price of $11.54.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.122 dividend. This represents a yield of 12.59%. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Western Asset Global Corporate Defined Opportunity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth about $29,000. Commonwealth Equity Services LLC lifted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 25.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,948 shares of the company’s stock valued at $283,000 after acquiring an additional 4,998 shares during the period. 1607 Capital Partners LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth approximately $322,000. Shaker Financial Services LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter worth approximately $572,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter worth approximately $646,000.

About Western Asset Global Corporate Defined Opportunity Fund

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.