Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $10.92 and traded as low as $10.74. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $10.8450, with a volume of 26,251 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Stock Up 0.6%

The firm’s fifty day moving average price is $10.92 and its 200 day moving average price is $11.33.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.122 per share. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Monday, August 24th.

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

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter valued at $30,000. Advisory Services Network LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth about $37,000. Kestra Advisory Services LLC purchased a new position in Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter valued at about $84,000. Van Diest Capital LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter valued at about $149,000. Finally, Susquehanna International Group LLP acquired a new position in Western Asset Global Corporate Defined Opportunity Fund in the 3rd quarter valued at about $177,000.

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.