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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 12,800 shares, a growth of 884.6% from the January 31st total of 1,300 shares. Based on an average daily trading volume, of 45,000 shares, the days-to-cover ratio is presently 0.3 days.

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

A number of large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in Western Asset Global Corporate Defined Opportunity Fund by 18.5% during the 4th quarter. Ameriprise Financial Inc. now owns 97,270 shares of the company’s stock worth $1,102,000 after purchasing an additional 15,212 shares in the last quarter. Shaker Financial Services LLC bought a new position in Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth about $572,000. 1607 Capital Partners LLC bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter valued at about $322,000. Raymond James Financial Inc. bought a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter valued at about $933,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 25.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 24,948 shares of the company’s stock valued at $283,000 after acquiring an additional 4,998 shares in the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Western Asset Global Corporate Defined Opportunity Fund stock traded down $0.03 during mid-day trading on Friday, hitting $11.38. 13,613 shares of the company’s stock were exchanged, compared to its average volume of 32,392. Western Asset Global Corporate Defined Opportunity Fund has a fifty-two week low of $10.92 and a fifty-two week high of $13.01. The company’s 50 day simple moving average is $11.28 and its 200-day simple moving average is $11.92.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 24th will be issued a dividend of $0.122 per share. This represents a $1.46 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date is Monday, March 24th.

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.