Western Asset Diversified Income Fund (NYSE:WDI) Trading Up 0.6% – Here’s Why

Western Asset Diversified Income Fund (NYSE:WDI) shares traded up 0.6% during mid-day trading on Monday . The company traded as high as $13.30 and last traded at $13.2050. 213,854 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 234,056 shares. The stock had previously closed at $13.12.

Western Asset Diversified Income Fund Stock Performance

The company’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $14.21.

Western Asset Diversified Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a $0.1485 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 13.5%.

Institutional Investors Weigh In On Western Asset Diversified Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDI. Concurrent Investment Advisors LLC bought a new position in Western Asset Diversified Income Fund during the fourth quarter valued at about $303,000. Shaker Financial Services LLC bought a new stake in Western Asset Diversified Income Fund in the fourth quarter worth about $1,859,000. JPMorgan Chase & Co. raised its position in Western Asset Diversified Income Fund by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 175,709 shares of the company’s stock worth $2,585,000 after acquiring an additional 31,950 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in Western Asset Diversified Income Fund by 2.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 262,130 shares of the company’s stock valued at $3,856,000 after acquiring an additional 5,124 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC lifted its holdings in Western Asset Diversified Income Fund by 21.9% in the 3rd quarter. Prevail Innovative Wealth Advisors LLC now owns 133,668 shares of the company’s stock valued at $1,966,000 after acquiring an additional 23,982 shares during the last quarter.

Western Asset Diversified Income Fund (NYSE: WDI) is a closed-end management investment company sponsored and managed by Western Asset Management Company, LLC. Launched in mid-2009, the Fund seeks to provide current income with a secondary objective of capital preservation through diversified exposure to a broad range of fixed-income and income-oriented securities.

The Fund’s investment strategy emphasizes below-investment-grade debt instruments, including high-yield corporate bonds, bank loans, mortgage- and asset-backed securities, and emerging market sovereign and corporate issues.