Western Asset Emerging Markets Debt Fund (NYSE:EMD) Stock Price Down 0.2% – Here’s Why

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD)’s stock price fell 0.2% during trading on Friday . The stock traded as low as $9.91 and last traded at $9.9850. Approximately 192,510 shares were traded during trading, a decline of 8% from the average session volume of 210,221 shares. The stock had previously closed at $10.00.

Western Asset Emerging Markets Debt Fund Stock Down 0.2%

The business’s 50-day moving average is $10.48 and its two-hundred day moving average is $10.50.

Western Asset Emerging Markets Debt Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.095 dividend. This represents a c) annualized dividend and a dividend yield of 11.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. This is an increase from Western Asset Emerging Markets Debt Fund’s previous monthly dividend of $0.03.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in shares of Western Asset Emerging Markets Debt Fund in the 2nd quarter valued at $5,670,000. Rareview Capital LLC raised its position in Western Asset Emerging Markets Debt Fund by 8.4% in the 2nd quarter. Rareview Capital LLC now owns 311,012 shares of the company’s stock valued at $3,126,000 after purchasing an additional 24,208 shares during the last quarter. Royal Bank of Canada boosted its stake in Western Asset Emerging Markets Debt Fund by 21.4% during the 1st quarter. Royal Bank of Canada now owns 267,125 shares of the company’s stock worth $2,624,000 after purchasing an additional 47,135 shares during the period. NewEdge Advisors LLC boosted its stake in Western Asset Emerging Markets Debt Fund by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 108,981 shares of the company’s stock worth $1,170,000 after purchasing an additional 15,533 shares during the period. Finally, Comprehensive Money Management Services LLC purchased a new position in Western Asset Emerging Markets Debt Fund during the 2nd quarter worth $892,000. Hedge funds and other institutional investors own 33.05% of the company’s stock.

About Western Asset Emerging Markets Debt Fund

Western Asset Emerging Markets Debt Fund, Inc (NYSE: EMD) is a closed-end investment company that seeks to provide investors with high current income and opportunities for total return through capital appreciation. The fund is managed by Western Asset Management Company, LLC, an investment manager specializing in fixed-income strategies.

The fund invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries. Its portfolio may include sovereign and corporate bonds, loans and other fixed-income instruments denominated in both local currencies and major foreign currencies.