Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) Short Interest Up 97.8% in March

Key Points

• Short interest surged 97.8% in March, rising to 24,474 shares from 12,375 on Feb. 26, equal to about 0.1% of shares outstanding and a days-to-cover ratio of 0.2.
• The fund announced a quarterly dividend of $0.14 per share (annualized $0.56), a 7.7% yield, payable April 15 with an ex-dividend/record date of March 31.
• Several institutional investors either initiated or increased positions (notably Everstar Asset Management now owns 210,370 shares), while the fund traded around $7.25, inside its 52-week range of $6.91–$8.25.

Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 24,474 shares, an increase of 97.8% from the February 26th total of 12,375 shares. Based on an average trading volume of 113,578 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Morgan Stanley Emerging Markets Debt Fund Price Performance

Morgan Stanley Emerging Markets Debt Fund stock traded down $0.11 during midday trading on Thursday, hitting $7.25. The company's stock had a trading volume of 90,951 shares, compared to its average volume of 96,213. Morgan Stanley Emerging Markets Debt Fund has a 1-year low of $6.91 and a 1-year high of $8.25. The company has a 50-day moving average price of $7.64 and a two-hundred day moving average price of $7.48.

Morgan Stanley Emerging Markets Debt Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.56 annualized dividend and a dividend yield of 7.7%.

Institutional Investors Weigh In On Morgan Stanley Emerging Markets Debt Fund

Several institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. bought a new position in Morgan Stanley Emerging Markets Debt Fund during the 3rd quarter worth $563,000. Raymond James Financial Inc. lifted its position in shares of Morgan Stanley Emerging Markets Debt Fund by 4.2% during the 3rd quarter. Raymond James Financial Inc. now owns 74,744 shares of the company's stock valued at $551,000 after acquiring an additional 3,001 shares during the period. Cetera Investment Advisers bought a new stake in shares of Morgan Stanley Emerging Markets Debt Fund during the 4th quarter valued at $85,000. Millennium Management LLC acquired a new stake in shares of Morgan Stanley Emerging Markets Debt Fund during the 4th quarter worth $83,000. Finally, Everstar Asset Management LLC grew its holdings in shares of Morgan Stanley Emerging Markets Debt Fund by 17.6% during the 4th quarter. Everstar Asset Management LLC now owns 210,370 shares of the company's stock worth $1,611,000 after purchasing an additional 31,552 shares in the last quarter.

About Morgan Stanley Emerging Markets Debt Fund

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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