Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.30 and traded as high as $11.50. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.47, with a volume of 54,051 shares changing hands.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 1.0 %

The firm’s fifty day moving average is $11.29 and its 200-day moving average is $11.99.

Western Asset Global Corporate Defined Opportunity Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, February 3rd. Stockholders of record on Monday, January 27th were issued a dividend of $0.122 per share. The ex-dividend date was Friday, January 24th. 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.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 2nd quarter worth about $250,000. Commonwealth Equity Services LLC lifted its stake 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 buying an additional 4,998 shares in the last quarter. 1607 Capital Partners LLC purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter worth approximately $322,000. Shaker Financial Services LLC purchased a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter worth approximately $572,000. Finally, Wolverine Asset Management LLC purchased a new stake in 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.