Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Sees Large Decline in Short Interest

Key Points

• Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) experienced a significant decline in short interest, falling by 44.9% from August to September, with short interest totaling 51,700 shares as of mid-September.
• The fund announced a monthly dividend of $0.095, payable on November 3rd, which indicates an annualized yield of 11.1%.
• Several institutional investors have increased their stakes in the fund, with 33.05% of the stock now owned by institutional investors and hedge funds.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - ) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 51,700 shares, a decline of 44.9% from the August 31st total of 93,900 shares. Based on an average daily trading volume, of 174,700 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 174,700 shares, the short-interest ratio is currently 0.3 days.

Western Asset Emerging Markets Debt Fund Trading Down 1.0%

Shares of NYSE EMD traded down $0.11 during midday trading on Friday, hitting $10.31. The company's stock had a trading volume of 142,964 shares, compared to its average volume of 194,309. Western Asset Emerging Markets Debt Fund has a 1-year low of $8.56 and a 1-year high of $10.59. The firm's fifty day moving average price is $10.31 and its 200-day moving average price is $9.88.

Western Asset Emerging Markets Debt Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 24th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a c) annualized dividend and a dividend yield of 11.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. boosted its stake in Western Asset Emerging Markets Debt Fund by 4.6% during the 2nd quarter. Wedbush Securities Inc. now owns 22,725 shares of the company's stock valued at $228,000 after purchasing an additional 1,000 shares during the period. Envestnet Asset Management Inc. boosted its stake in Western Asset Emerging Markets Debt Fund by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,194 shares of the company's stock valued at $474,000 after purchasing an additional 1,018 shares during the period. Apollon Wealth Management LLC boosted its stake in Western Asset Emerging Markets Debt Fund by 4.0% during the 2nd quarter. Apollon Wealth Management LLC now owns 26,542 shares of the company's stock valued at $267,000 after purchasing an additional 1,033 shares during the period. Level Four Advisory Services LLC boosted its stake in Western Asset Emerging Markets Debt Fund by 8.9% during the 2nd quarter. Level Four Advisory Services LLC now owns 13,615 shares of the company's stock valued at $137,000 after purchasing an additional 1,115 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Western Asset Emerging Markets Debt Fund by 1.6% during the 1st quarter. NewEdge Advisors LLC now owns 92,651 shares of the company's stock valued at $916,000 after purchasing an additional 1,464 shares during the period. 33.05% of the stock is owned by institutional investors and hedge funds.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund Inc is an open ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd. The fund invests in fixed income markets of emerging market countries across the globe.

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