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

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.30 and traded as high as $11.50. Western Asset Global Corporate Defined Opportunity Fund shares last traded at $11.47, with a volume of 54,051 shares trading hands.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

The company has a 50-day moving average price of $11.29 and a 200-day moving average price of $11.99.

Western Asset Global Corporate Defined Opportunity Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, February 3rd. Stockholders of record on Monday, January 27th were given a $0.122 dividend. This is an increase from Western Asset Global Corporate Defined Opportunity Fund’s previous dividend of $0.10. This represents a dividend yield of 12.93%. The ex-dividend date of this dividend was Friday, January 24th.

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

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of Western Asset Global Corporate Defined Opportunity Fund in the 2nd quarter worth approximately $250,000. Commonwealth Equity Services LLC lifted its holdings in Western Asset Global Corporate Defined Opportunity Fund by 25.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,948 shares of the company’s stock worth $283,000 after buying an additional 4,998 shares in the last quarter. 1607 Capital Partners LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth $322,000. Shaker Financial Services LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth $572,000. Finally, Wolverine Asset Management LLC acquired a new position in Western Asset Global Corporate Defined Opportunity Fund during the 4th quarter worth $646,000.

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.