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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 17,834 shares, a drop of 51.8% from the April 15th total of 36,999 shares. Based on an average trading volume of 23,439 shares, the short-interest ratio is currently 0.8 days.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Shares of NYSE GDO traded down $0.11 during trading hours on Friday, hitting $10.78. 11,103 shares of the stock were exchanged, compared to its average volume of 30,543. Western Asset Global Corporate Defined Opportunity Fund has a 1-year low of $10.52 and a 1-year high of $12.15. The company’s fifty day simple moving average is $10.98 and its two-hundred day simple moving average is $11.39.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a dividend of $0.122 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Van Diest Capital LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth about $149,000. Fifth Third Bancorp acquired a new position in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth about $30,000. Guggenheim Capital LLC increased its holdings in Western Asset Global Corporate Defined Opportunity Fund by 44.7% in the 4th quarter. Guggenheim Capital LLC now owns 78,231 shares of the company’s stock worth $924,000 after purchasing an additional 24,150 shares in the last quarter. Cetera Investment Advisers increased its holdings in Western Asset Global Corporate Defined Opportunity Fund by 43.6% in the 4th quarter. Cetera Investment Advisers now owns 19,836 shares of the company’s stock worth $234,000 after purchasing an additional 6,020 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Western Asset Global Corporate Defined Opportunity Fund by 22.3% in the 4th quarter. Osaic Holdings Inc. now owns 176,944 shares of the company’s stock worth $2,090,000 after purchasing an additional 32,308 shares in the last quarter.

About Western Asset Global Corporate Defined Opportunity Fund

The Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues a broadly diversified portfolio of corporate debt instruments, investing across investment-grade and below investment-grade securities issued by corporations worldwide. Through an actively managed strategy, GDO aims to capture opportunities arising from market dislocations, credit spreads and interest rate movements.

GDO’s investment approach is built around a global credit platform, allowing the fund to allocate capital across various sectors, regions and credit-quality levels.