Advisors Asset Management Inc. Acquires 141,776 Shares of Western Asset Emerging Markets Debt Fund Inc. $EMD

Key Points

• Advisors Asset Management Inc. increased its stake in Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) by 28.2%, owning approximately 2.25% of the fund, valued at $6.376 million.
• The fund recently declared a monthly dividend of $0.095 per share, with an ex-dividend date of October 24th, representing an annualized yield of 11.1%.
• As of now, institutional investors own 33.05% of the stock, with various hedge funds modifying their holdings in recent months.

Advisors Asset Management Inc. raised its stake in shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 644,690 shares of the company's stock after acquiring an additional 141,776 shares during the period. Advisors Asset Management Inc. owned approximately 2.25% of Western Asset Emerging Markets Debt Fund worth $6,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pathstone Holdings LLC lifted its stake in Western Asset Emerging Markets Debt Fund by 15.6% during the 4th quarter. Pathstone Holdings LLC now owns 2,431,764 shares of the company's stock valued at $23,415,000 after acquiring an additional 327,811 shares during the period. LPL Financial LLC lifted its stake in Western Asset Emerging Markets Debt Fund by 0.4% during the 1st quarter. LPL Financial LLC now owns 794,299 shares of the company's stock valued at $7,856,000 after acquiring an additional 2,971 shares during the period. Raymond James Financial Inc. lifted its stake in Western Asset Emerging Markets Debt Fund by 8.4% during the 1st quarter. Raymond James Financial Inc. now owns 351,711 shares of the company's stock valued at $3,478,000 after acquiring an additional 27,230 shares during the period. Ameriprise Financial Inc. lifted its stake in Western Asset Emerging Markets Debt Fund by 3.5% during the 4th quarter. Ameriprise Financial Inc. now owns 329,166 shares of the company's stock valued at $3,166,000 after acquiring an additional 11,108 shares during the period. Finally, Shaker Financial Services LLC lifted its stake in Western Asset Emerging Markets Debt Fund by 16.6% during the 1st quarter. Shaker Financial Services LLC now owns 195,763 shares of the company's stock valued at $1,954,000 after acquiring an additional 27,878 shares during the period. Institutional investors own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Price Performance

Shares of NYSE:EMD traded up $0.14 during trading on Friday, hitting $10.43. The company's stock had a trading volume of 231,818 shares, compared to its average volume of 192,877. The company has a 50-day moving average of $10.20 and a 200-day moving average of $9.80. Western Asset Emerging Markets Debt Fund Inc. has a 12 month low of $8.56 and a 12 month high of $10.49.

Western Asset Emerging Markets Debt Fund Dividend Announcement

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

Western Asset Emerging Markets Debt Fund Company 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.