Short Interest in Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Drops By 53.2%

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 12,300 shares, a drop of 53.2% from the December 15th total of 26,300 shares. Based on an average daily volume of 52,500 shares, the short-interest ratio is currently 0.2 days.

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

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 2nd quarter worth about $250,000. Dynamic Advisor Solutions LLC lifted its position in Western Asset Global Corporate Defined Opportunity Fund by 6.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 48,585 shares of the company’s stock worth $625,000 after acquiring an additional 2,919 shares during the last quarter. Fiera Capital Corp lifted its position in Western Asset Global Corporate Defined Opportunity Fund by 4.0% during the third 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. Almitas Capital LLC bought a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the second quarter worth approximately $2,475,000. Finally, International Assets Investment Management LLC grew its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1,187.0% in the third quarter. International Assets Investment Management LLC now owns 214,993 shares of the company’s stock valued at $2,767,000 after purchasing an additional 198,288 shares during the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Shares of NYSE GDO traded up $0.03 during midday trading on Tuesday, hitting $11.04. 31,252 shares of the company’s stock were exchanged, compared to its average volume of 48,494. Western Asset Global Corporate Defined Opportunity Fund has a 12 month low of $10.92 and a 12 month high of $13.01. The company’s 50 day moving average price is $11.49 and its 200 day moving average price is $12.16.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 24th will be given a dividend of $0.122 per share. The ex-dividend date is Friday, January 24th. This represents a $1.46 dividend on an annualized basis and a yield of 13.26%.

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.