Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Share Price Passes Below 50-Day Moving Average – What’s Next?

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.85 and traded as low as $11.47. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.5550, with a volume of 29,152 shares traded.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

The company’s 50-day simple moving average is $11.85 and its 200-day simple moving average is $11.72.

Institutional Investors Weigh In On Western Asset Global Corporate Defined Opportunity Fund

Several large investors have recently modified their holdings of GDO. Smith Asset Management Co. LLC purchased a new position in Western Asset Global Corporate Defined Opportunity Fund in the first quarter worth $1,491,000. 1607 Capital Partners LLC lifted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 174.6% during the 1st quarter. 1607 Capital Partners LLC now owns 78,000 shares of the company’s stock valued at $903,000 after acquiring an additional 49,600 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 41.7% during the second quarter. Osaic Holdings Inc. now owns 112,578 shares of the company’s stock worth $1,328,000 after purchasing an additional 33,151 shares during the last quarter. Fiera Capital Corp lifted its position in Western Asset Global Corporate Defined Opportunity Fund by 21.5% during the third quarter. Fiera Capital Corp now owns 73,423 shares of the company’s stock worth $872,000 after buying an additional 12,969 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter worth about $143,000.

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.