Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) Stock Price Down 0.2% - Here's Why

Key Points

• Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) shares fell by 0.2% during mid-day trading on Thursday, with a last trading price of $7.63.
• The fund recently declared a quarterly dividend of $0.19, equating to an annualized yield of 10.0%.
• Several institutional investors have recently modified their stakes in the fund, with notable purchases totaling approximately $295,000 from Private Advisor Group LLC.

Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD - Get Free Report)'s share price was down 0.2% during mid-day trading on Thursday . The stock traded as low as $7.62 and last traded at $7.63. Approximately 78,286 shares traded hands during trading, a decline of 32% from the average daily volume of 114,562 shares. The stock had previously closed at $7.64.

Morgan Stanley Emerging Markets Debt Fund Trading Down 0.3%

The company's 50 day simple moving average is $7.50 and its 200-day simple moving average is $7.64.

Morgan Stanley Emerging Markets Debt Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Tuesday, September 30th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Morgan Stanley Emerging Markets Debt Fund by 1.1% in the second quarter. Bank of America Corp DE now owns 174,977 shares of the company's stock valued at $1,353,000 after buying an additional 1,904 shares during the period. Comprehensive Money Management Services LLC raised its stake in shares of Morgan Stanley Emerging Markets Debt Fund by 5.8% during the first quarter. Comprehensive Money Management Services LLC now owns 57,345 shares of the company's stock valued at $462,000 after purchasing an additional 3,150 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Morgan Stanley Emerging Markets Debt Fund by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 274,912 shares of the company's stock valued at $2,125,000 after purchasing an additional 3,611 shares during the period. Kovack Advisors Inc. raised its stake in shares of Morgan Stanley Emerging Markets Debt Fund by 9.5% during the first quarter. Kovack Advisors Inc. now owns 43,157 shares of the company's stock valued at $347,000 after purchasing an additional 3,750 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Morgan Stanley Emerging Markets Debt Fund during the first quarter valued at approximately $31,000.

About Morgan Stanley Emerging Markets Debt Fund

Morgan Stanley Emerging Markets Debt Fund, Inc is a closed ended fixed income fund launched and managed by Morgan Stanley Investment Management Inc The fund invests in fixed income markets of emerging market countries across the globe. It primarily invests in debt securities of government and government-related issuers, of entities organized to restructure outstanding debt of such issuers and debt securities of corporate issuers in or organized under the laws of emerging countries.