Bank of America Corp DE Acquires 527,910 Shares of Western Asset Emerging Markets Debt Fund Inc. $EMD

Key Points

• Bank of America acquired 527,910 shares of Western Asset Emerging Markets Debt Fund during the second quarter, valued at approximately $5.67 million and representing about 1.84% of the fund.
• Institutional investors and hedge funds own approximately 33.05% of EMD, with several firms increasing their positions during the first and second quarters.
• EMD opened at $9.62, near its 12-month low, while the fund raised its monthly dividend to $0.095 per share—an annualized payout of $1.14 and a yield of approximately 11.9%.

Bank of America Corp DE acquired a new position in shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 527,910 shares of the company's stock, valued at approximately $5,670,000. Bank of America Corp DE owned about 1.84% of Western Asset Emerging Markets Debt Fund at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EMD. Royal Bank of Canada boosted its position in Western Asset Emerging Markets Debt Fund by 21.4% in the 1st quarter. Royal Bank of Canada now owns 267,125 shares of the company's stock valued at $2,624,000 after buying an additional 47,135 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 2.2% in the 1st quarter. NewEdge Advisors LLC now owns 93,448 shares of the company's stock valued at $918,000 after acquiring an additional 2,026 shares during the last quarter. Comprehensive Money Management Services LLC raised its holdings in Western Asset Emerging Markets Debt Fund by 2.3% in the first quarter. Comprehensive Money Management Services LLC now owns 79,335 shares of the company's stock worth $779,000 after purchasing an additional 1,800 shares during the period. Janney Montgomery Scott LLC raised its stake in Western Asset Emerging Markets Debt Fund by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 69,423 shares of the company's stock worth $682,000 after buying an additional 3,050 shares during the period. Finally, Gould Asset Management LLC CA acquired a new stake in shares of Western Asset Emerging Markets Debt Fund during the second quarter worth about $604,000. Institutional investors and hedge funds own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Stock Down 0.3%

EMD opened at $9.62 on Monday. The firm's fifty day simple moving average is $10.39 and its 200 day simple moving average is $10.46. Western Asset Emerging Markets Debt Fund Inc. has a 12 month low of $9.43 and a 12 month high of $11.30.

Western Asset Emerging Markets Debt Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.0950 per share. This is an increase from Western Asset Emerging Markets Debt Fund's previous monthly dividend of $0.0330. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.14 dividend on an annualized basis and a yield of 11.9%.

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.

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