Short Interest in Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Decreases By 80.1%

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 1,669 shares, a drop of 80.1% from the July 30th total of 8,374 shares. Based on an average daily trading volume, of 71,045 shares, the days-to-cover ratio is presently 0.0 days.

Western Asset Global Corporate Defined Opportunity Fund Trading Up 0.0%

GDO stock traded up $0.01 during trading on Thursday, hitting $10.16. 22,118 shares of the company traded hands, compared to its average volume of 33,659. The company has a 50-day moving average of $10.44 and a 200-day moving average of $10.81. Western Asset Global Corporate Defined Opportunity Fund has a 1 year low of $10.14 and a 1 year high of $12.15.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a dividend of $0.122 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) annualized dividend and a yield of 14.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the first quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at approximately $37,000. CoreCap Advisors LLC bought a new position in Western Asset Global Corporate Defined Opportunity Fund during the 2nd quarter valued at about $64,000. Kestra Advisory Services LLC purchased a new position in shares of Western Asset Global Corporate Defined Opportunity Fund during the fourth quarter valued at approximately $84,000. Finally, Van Diest Capital LLC bought a new position in Western Asset Global Corporate Defined Opportunity Fund during the first quarter valued at approximately $149,000.

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.