Western Asset Emerging Markets Debt Fund (NYSE:EMD) Trading Down 0.2% - Here's What Happened

Key Points

• EMD shares fell 0.2% to approximately $9.985 on Friday, with trading volume down 8% from its average. The fund’s 50-day and 200-day moving averages were $10.48 and $10.50, respectively.
• The fund declared a monthly dividend of $0.095 per share, payable September 30 to shareholders of record September 23. This represents an increase from the prior $0.03 monthly dividend and an annualized yield of 11.4%.
• Institutional investors and hedge funds own 33.05% of EMD, with several firms adding to or initiating positions during the second quarter.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) shares dropped 0.2% on Friday . The company traded as low as $9.91 and last traded at $9.9850. Approximately 192,510 shares were traded during trading, a decline of 8% from the average daily volume of 210,221 shares. The stock had previously closed at $10.00.

Western Asset Emerging Markets Debt Fund Stock Performance

The firm's 50 day moving average is $10.48 and its 200-day moving average is $10.50.

Western Asset Emerging Markets Debt Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.095 per share. This represents a c) annualized dividend and a dividend yield of 11.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. This is a positive change from Western Asset Emerging Markets Debt Fund's previous monthly dividend of $0.03.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

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

About Western Asset Emerging Markets Debt Fund

Western Asset Emerging Markets Debt Fund, Inc NYSE: EMD is a closed-end investment company that seeks to provide investors with high current income and opportunities for total return through capital appreciation. The fund is managed by Western Asset Management Company, LLC, an investment manager specializing in fixed-income strategies.

The fund invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries. Its portfolio may include sovereign and corporate bonds, loans and other fixed-income instruments denominated in both local currencies and major foreign currencies.

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