Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Stock Short Interest Jumps 1,521.4%

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 112,344 shares, a growth of 1,521.4% from the September 15th total of 6,929 shares. Based on an average daily volume of 83,474 shares, the short-interest ratio is presently 1.3 days.

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

Several large investors have recently added to or reduced their stakes in GDO. Dynamic Advisor Solutions LLC boosted its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 6.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 62,526 shares of the company’s stock worth $671,000 after buying an additional 3,550 shares during the period. Van Diest Capital LLC acquired a new stake in Western Asset Global Corporate Defined Opportunity Fund during the 1st quarter valued at $149,000. CoreCap Advisors LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the second quarter worth approximately $64,000. Fifth Third Bancorp purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the first quarter worth $30,000. Finally, Noble Wealth Management PBC lifted its stake in Western Asset Global Corporate Defined Opportunity Fund by 126.9% in the third quarter. Noble Wealth Management PBC now owns 2,950 shares of the company’s stock valued at $28,000 after acquiring an additional 1,650 shares during the last quarter.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

NYSE GDO traded down $0.02 during trading hours on Friday, reaching $9.57. The company’s stock had a trading volume of 18,263 shares, compared to its average volume of 36,925. The business has a 50-day simple moving average of $9.99 and a 200 day simple moving average of $10.50. Western Asset Global Corporate Defined Opportunity Fund has a 52 week low of $9.33 and a 52 week high of $12.02.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a dividend of $0.1220 per share. The ex-dividend date is Friday, November 20th. This represents a $1.46 dividend on an annualized basis and a yield of 15.3%.

Western Asset Global Corporate Defined Opportunity Fund Company Profile

Western Asset Global Corporate Defined Opportunity Fund, Inc (NYSE:GDO) is a closed-end investment fund managed by Western Asset Management Company LLC. The fund seeks to provide investors with current income and the potential for capital appreciation by investing primarily in corporate debt securities issued by companies around the world.

Its portfolio may include investment-grade and below-investment-grade corporate bonds, floating-rate obligations, emerging-market debt and other fixed-income securities.