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

by · The Cerbat Gem

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 32,200 shares, a growth of 2,583.3% from the September 30th total of 1,200 shares. Based on an average daily volume of 59,100 shares, the short-interest ratio is presently 0.5 days.

Western Asset Global Corporate Defined Opportunity Fund Stock Performance

Shares of NYSE GDO traded up $0.03 during trading on Friday, reaching $11.95. 28,407 shares of the company traded hands, compared to its average volume of 48,670. The firm’s fifty day simple moving average is $12.68 and its 200 day simple moving average is $12.42. Western Asset Global Corporate Defined Opportunity Fund has a 12-month low of $11.21 and a 12-month high of $13.04.

Western Asset Global Corporate Defined Opportunity Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 21st will be issued a $0.122 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 12.25%. The ex-dividend date is Thursday, November 21st.

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

Hedge funds have recently bought and sold shares of the stock. Almitas Capital LLC acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 2nd quarter valued at $2,475,000. International Assets Investment Management LLC raised its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1,187.0% in the third quarter. International Assets Investment Management LLC now owns 214,993 shares of the company’s stock worth $2,767,000 after acquiring an additional 198,288 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 9.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 580,750 shares of the company’s stock worth $7,091,000 after acquiring an additional 50,706 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund during the 2nd quarter worth about $250,000. Finally, Moloney Securities Asset Management LLC grew its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.0% during the 1st quarter. Moloney Securities Asset Management LLC now owns 28,365 shares of the company’s stock valued at $354,000 after acquiring an additional 9,943 shares during the period.

About Western Asset Global Corporate Defined Opportunity Fund

(Get Free Report)

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.

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