Western Asset Emerging Markets Debt Fund Inc. $EMD Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Western Asset Emerging Markets Debt Fund Inc. by 8.4%, purchasing an additional 27,230 shares, bringing its total to 351,711 shares valued at approximately $3.48 million.
• The monthly dividend of $0.095 per share will be paid on November 3rd, with an annualized yield of 10.9% based on the stock's performance.
• Institutional investors collectively own 33.05% of the company's stock, indicating significant institutional interest in the fund.

Raymond James Financial Inc. lifted its holdings in shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,711 shares of the company's stock after buying an additional 27,230 shares during the period. Raymond James Financial Inc. owned about 1.23% of Western Asset Emerging Markets Debt Fund worth $3,478,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Comerica Bank increased its stake in Western Asset Emerging Markets Debt Fund by 8.6% in the 4th quarter. Comerica Bank now owns 23,035 shares of the company's stock valued at $222,000 after purchasing an additional 1,815 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Western Asset Emerging Markets Debt Fund by 3.5% in the 4th quarter. Ameriprise Financial Inc. now owns 329,166 shares of the company's stock valued at $3,166,000 after purchasing an additional 11,108 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Western Asset Emerging Markets Debt Fund in the 4th quarter valued at approximately $192,000. Pathstone Holdings LLC increased its stake in Western Asset Emerging Markets Debt Fund by 15.6% in the 4th quarter. Pathstone Holdings LLC now owns 2,431,764 shares of the company's stock valued at $23,415,000 after purchasing an additional 327,811 shares in the last quarter. Finally, Vivaldi Capital Management LP purchased a new position in Western Asset Emerging Markets Debt Fund in the 4th quarter valued at approximately $161,000. 33.05% of the stock is owned by hedge funds and other institutional investors.

Western Asset Emerging Markets Debt Fund Stock Performance

NYSE EMD traded up $0.01 during mid-day trading on Thursday, hitting $10.45. The stock had a trading volume of 149,671 shares, compared to its average volume of 191,870. Western Asset Emerging Markets Debt Fund Inc. has a 52-week low of $8.56 and a 52-week high of $10.49. The company has a 50 day simple moving average of $10.22 and a 200 day simple moving average of $9.82.

Western Asset Emerging Markets Debt Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 24th will be paid a $0.095 dividend. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Friday, October 24th.

Western Asset Emerging Markets Debt Fund Profile

Western Asset Emerging Markets Debt Fund Inc is an open ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd. The fund invests in fixed income markets of emerging market countries across the globe.