Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) Sees Large Increase in Short Interest

Key Points

• Short interest jumped 55.1% to 37,956 shares as of March 31, equal to 0.2% of shares outstanding and a days-to-cover ratio of 0.3 based on average daily volume.
• The fund declared a quarterly dividend of $0.14 (annualized $0.56) for a yield of 7.6%, with an ex-dividend date of March 31 and payment on April 15; the report indicates this reflects a dividend cut.

Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 37,956 shares, a growth of 55.1% from the March 15th total of 24,474 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 116,799 shares, the days-to-cover ratio is currently 0.3 days.

Morgan Stanley Emerging Markets Debt Fund Price Performance

Shares of NYSE:MSD opened at $7.36 on Tuesday. The business's 50 day simple moving average is $7.53 and its 200-day simple moving average is $7.45. Morgan Stanley Emerging Markets Debt Fund has a 12 month low of $6.91 and a 12 month high of $7.94.

Morgan Stanley Emerging Markets Debt Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.56 dividend on an annualized basis and a yield of 7.6%.

Institutional Investors Weigh In On Morgan Stanley Emerging Markets Debt Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Morgan Stanley Emerging Markets Debt Fund in the 4th quarter valued at approximately $83,000. Cetera Investment Advisers purchased a new stake in Morgan Stanley Emerging Markets Debt Fund in the 4th quarter valued at approximately $85,000. Evolve Private Wealth LLC purchased a new stake in Morgan Stanley Emerging Markets Debt Fund in the 4th quarter valued at approximately $106,000. Brookstone Capital Management lifted its stake in Morgan Stanley Emerging Markets Debt Fund by 36.9% in the 3rd quarter. Brookstone Capital Management now owns 15,385 shares of the company's stock valued at $113,000 after buying an additional 4,149 shares in the last quarter. Finally, Choreo LLC purchased a new stake in Morgan Stanley Emerging Markets Debt Fund in the 4th quarter valued at approximately $147,000.

Morgan Stanley Emerging Markets Debt Fund Company Profile

Morgan Stanley Emerging Markets Debt Fund NYSE: MSD is a closed-end management investment company that seeks to provide a high level of current income. The fund primarily invests in U.S. dollar-denominated sovereign and corporate debt securities issued by governments and corporations in emerging market countries.

MSD's investment strategy emphasizes diversification across regions, sectors and issuers. The fund's portfolio managers use fundamental credit analysis to identify opportunities in markets such as Latin America, Eastern Europe, the Middle East, Africa and Asia.

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