Shaker Financial Services LLC Acquires 27,878 Shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD)

Key Points

• Shaker Financial Services LLC increased its holdings in Western Asset Emerging Markets Debt Fund by 16.6%, acquiring an additional 27,878 shares and totaling 195,763 shares worth about $1.95 million.
• Institutional investors collectively own 33.05% of the stock, with notable transactions including Wells Fargo & Company, which raised its stake by 85.6% in the fourth quarter.
• The fund recently declared a $0.095 dividend with a yield of 1,126.0%, reflecting the company’s focus on providing returns to its shareholders.

Shaker Financial Services LLC increased its position in shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 195,763 shares of the company's stock after acquiring an additional 27,878 shares during the period. Shaker Financial Services LLC owned about 0.68% of Western Asset Emerging Markets Debt Fund worth $1,954,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Western Asset Emerging Markets Debt Fund by 85.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,461,685 shares of the company's stock valued at $14,061,000 after purchasing an additional 674,337 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Western Asset Emerging Markets Debt Fund by 10.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 41,150 shares of the company's stock valued at $396,000 after acquiring an additional 4,020 shares in the last quarter. Invesco Ltd. increased its stake in Western Asset Emerging Markets Debt Fund by 12.3% in the 4th quarter. Invesco Ltd. now owns 1,074,495 shares of the company's stock valued at $10,337,000 after buying an additional 117,651 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Western Asset Emerging Markets Debt Fund by 13.3% during the fourth quarter. Advisory Services Network LLC now owns 178,604 shares of the company's stock worth $1,718,000 after acquiring an additional 20,935 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Western Asset Emerging Markets Debt Fund during the fourth quarter worth about $3,122,000. Institutional investors own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Stock Performance

Shares of NYSE:EMD traded up $0.07 during midday trading on Thursday, reaching $10.24. 188,309 shares of the company traded hands, compared to its average volume of 195,752. The firm's fifty day moving average price is $9.99 and its two-hundred day moving average price is $9.74. Western Asset Emerging Markets Debt Fund Inc. has a 12 month low of $8.56 and a 12 month high of $10.33.

Western Asset Emerging Markets Debt Fund Increases Dividend

The business also recently announced a -- dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 20th will be issued a $0.095 dividend. This represents a yield of 1,120.0%. This is a positive change from Western Asset Emerging Markets Debt Fund's previous -- dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 20th.

About Western Asset Emerging Markets Debt Fund

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.