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 recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 11,338 shares, a decline of 61.1% from the May 31st total of 29,184 shares. Based on an average trading volume of 30,687 shares, the short-interest ratio is presently 0.4 days.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Shares of Western Asset Global Corporate Defined Opportunity Fund stock traded up $0.01 on Tuesday, hitting $10.72. 16,074 shares of the company’s stock traded hands, compared to its average volume of 30,126. The firm’s 50-day moving average price is $10.84 and its two-hundred day moving average price is $11.20. Western Asset Global Corporate Defined Opportunity Fund has a one year low of $10.52 and a one year high of $12.15.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.122 dividend. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date is Monday, August 24th.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its stake in shares of 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 valued at $2,090,000 after acquiring an additional 32,308 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Western Asset Global Corporate Defined Opportunity Fund by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 136,424 shares of the company’s stock worth $1,621,000 after acquiring an additional 17,217 shares during the last quarter. Fiera Capital Corp boosted its stake in Western Asset Global Corporate Defined Opportunity Fund by 42.6% during the 4th quarter. Fiera Capital Corp now owns 104,687 shares of the company’s stock worth $1,236,000 after acquiring an additional 31,264 shares during the last quarter. Shaker Financial Services LLC grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 181.0% during the fourth quarter. Shaker Financial Services LLC now owns 94,936 shares of the company’s stock valued at $1,121,000 after purchasing an additional 61,145 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 44.7% during the fourth quarter. Guggenheim Capital LLC now owns 78,231 shares of the company’s stock valued at $924,000 after purchasing an additional 24,150 shares during the period.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

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.