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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 6,700 shares, a decline of 35.6% from the June 30th total of 10,400 shares. Based on an average daily trading volume, of 48,200 shares, the short-interest ratio is currently 0.1 days.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Western Asset Global Corporate Defined Opportunity Fund stock traded up $0.05 during midday trading on Friday, hitting $12.43. 19,191 shares of the stock were exchanged, compared to its average volume of 43,822. The company has a 50 day moving average price of $12.35 and a two-hundred day moving average price of $12.37. Western Asset Global Corporate Defined Opportunity Fund has a 1 year low of $11.21 and a 1 year high of $13.04.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 23rd will be given a $0.122 dividend. This represents a $1.46 annualized dividend and a dividend yield of 11.78%. The ex-dividend date of this dividend is Friday, August 23rd.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 9.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 580,750 shares of the company’s stock worth $7,091,000 after purchasing an additional 50,706 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.0% in the 1st quarter. Moloney Securities Asset Management LLC now owns 28,365 shares of the company’s stock worth $354,000 after purchasing an additional 9,943 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth about $464,000. Sowell Financial Services LLC increased its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.9% in the 4th quarter. Sowell Financial Services LLC now owns 65,950 shares of the company’s stock worth $842,000 after purchasing an additional 1,200 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1,048.4% in the 4th quarter. International Assets Investment Management LLC now owns 213,323 shares of the company’s stock worth $2,724,000 after purchasing an additional 194,748 shares during the last quarter.

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.