Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Stock Short Interest Declines 78.7%

Key Points

• Short interest plunged 78.7% in September to 30,627 shares, representing just 0.1% of shares outstanding and a short-interest ratio of 0.1 days.
• Institutional investors increased their exposure, with hedge funds and other institutions now owning 33.05% of the fund.
• EMD shares rose 0.9% to $9.30, while the fund increased its monthly dividend to $0.095 per share, implying an annualized yield of 12.3%.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 30,627 shares, a decline of 78.7% from the September 15th total of 143,715 shares. Based on an average trading volume of 239,281 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Western Asset Emerging Markets Debt Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its position in shares of Western Asset Emerging Markets Debt Fund by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 108,981 shares of the company's stock valued at $1,170,000 after purchasing an additional 15,533 shares during the last quarter. Rareview Capital LLC lifted its position in Western Asset Emerging Markets Debt Fund by 8.4% in the 2nd quarter. Rareview Capital LLC now owns 311,012 shares of the company's stock worth $3,126,000 after buying an additional 24,208 shares during the last quarter. IMC Chicago LLC bought a new stake in Western Asset Emerging Markets Debt Fund in the 2nd quarter worth approximately $184,000. Comprehensive Money Management Services LLC purchased a new stake in Western Asset Emerging Markets Debt Fund in the second quarter worth approximately $892,000. Finally, Papamarkou Wellner Asset Management inc. purchased a new stake in Western Asset Emerging Markets Debt Fund in the second quarter worth approximately $215,000. 33.05% of the stock is currently owned by hedge funds and other institutional investors.

Western Asset Emerging Markets Debt Fund Stock Up 0.9%

NYSE:EMD traded up $0.09 during midday trading on Friday, hitting $9.30. The company had a trading volume of 191,501 shares, compared to its average volume of 214,037. Western Asset Emerging Markets Debt Fund has a 52-week low of $9.10 and a 52-week high of $11.30. The stock's fifty day moving average price is $10.14 and its 200-day moving average price is $10.39.

Western Asset Emerging Markets Debt Fund Increases Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd were given a dividend of $0.0950 per share. The ex-dividend date was Wednesday, September 23rd. This is a positive change from Western Asset Emerging Markets Debt Fund's previous monthly dividend of $0.0330. This represents a $1.14 dividend on an annualized basis and a yield of 12.3%.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund NYSE: EMD is a closed-end investment fund focused on debt securities issued by governments, government-related entities and companies in emerging-market countries. The fund seeks to provide investors with current income and, to a lesser extent, capital appreciation through an actively managed portfolio of emerging-markets fixed-income investments.

Its investments may include sovereign and quasi-sovereign bonds, corporate debt, local-currency and hard-currency securities, and other fixed-income instruments.

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