Short Interest in Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Grows By 99.7%

Key Points

• Short interest nearly doubled to 256,574 shares as of July 31, up 99.7% from mid-July; about 0.9% of EMD’s shares are sold short, representing 1.4 days of average trading volume.
• Institutional investors and hedge funds made several purchases or increased holdings, with institutional ownership reaching 33.05% of the fund.
• EMD traded at $10.48, near its 50- and 200-day moving averages, while the fund raised its monthly dividend to $0.095 per share, implying a 10.9% annualized yield.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 256,574 shares, an increase of 99.7% from the July 15th total of 128,485 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 189,486 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

Several institutional investors and hedge funds have recently bought and sold shares of EMD. Fifth Third Bancorp acquired a new position in Western Asset Emerging Markets Debt Fund during the 1st quarter valued at approximately $254,000. Waterfront Wealth Inc. bought a new stake in Western Asset Emerging Markets Debt Fund in the first quarter valued at $106,000. Private Advisor Group LLC boosted its holdings in shares of Western Asset Emerging Markets Debt Fund by 43.0% during the first quarter. Private Advisor Group LLC now owns 22,910 shares of the company's stock valued at $225,000 after acquiring an additional 6,890 shares during the period. Comprehensive Money Management Services LLC boosted its holdings in shares of Western Asset Emerging Markets Debt Fund by 2.3% during the first quarter. Comprehensive Money Management Services LLC now owns 79,335 shares of the company's stock valued at $779,000 after acquiring an additional 1,800 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Western Asset Emerging Markets Debt Fund by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 69,423 shares of the company's stock worth $682,000 after acquiring an additional 3,050 shares during the last quarter. Institutional investors and hedge funds own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Stock Performance

Western Asset Emerging Markets Debt Fund stock traded down $0.04 during mid-day trading on Friday, reaching $10.48. The company's stock had a trading volume of 161,029 shares, compared to its average volume of 213,551. The business has a 50 day moving average price of $10.60 and a 200-day moving average price of $10.61. Western Asset Emerging Markets Debt Fund has a twelve month low of $9.60 and a twelve month high of $11.30.

Western Asset Emerging Markets Debt Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.095 dividend. This is a boost from Western Asset Emerging Markets Debt Fund's previous monthly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 10.9%.

About Western Asset Emerging Markets Debt Fund

Western Asset Emerging Markets Debt Fund Inc NYSE: EMD is a closed-end management investment company launched in December 2004 and managed by Western Asset Management Company, a global fixed-income specialist. The fund seeks to provide a high level of current income by investing primarily in debt securities issued by sovereign, quasi-sovereign and corporate issuers in emerging markets. Its diversified approach combines top-down macroeconomic analysis with bottom-up credit research to identify attractive risk-adjusted opportunities across developing economies.

EMD’s portfolio spans a wide range of instruments, including sovereign government bonds, supranational obligations, corporate credits and other fixed-income securities.

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