Western Asset Emerging Markets Debt Fund (NYSE:EMD) Trading 1.7% Higher - Still a Buy?

Key Points

• Shares rose 1.7% Monday to $10.2050 (high $10.24) on 160,183 traded shares, but the stock still trades below its 50‑day ($10.82) and 200‑day ($10.63) simple moving averages.
• $0.095 monthly dividend announced, payable May 29 to holders of record May 21 (ex‑dividend May 21), implying an annualized yield of about 11.2%.
• Institutional investors own 33.05% of the fund and several firms recently initiated or adjusted small stakes; EMD is a closed‑end fund managed by Western Asset that invests in emerging‑market sovereign and corporate debt to generate income.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) shot up 1.7% during trading on Monday . The company traded as high as $10.24 and last traded at $10.2050. 160,183 shares were traded during mid-day trading, a decline of 34% from the average session volume of 241,742 shares. The stock had previously closed at $10.03.

Western Asset Emerging Markets Debt Fund Stock Performance

The company's 50 day simple moving average is $10.82 and its two-hundred day simple moving average is $10.63.

Western Asset Emerging Markets Debt Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%.

Institutional Trading of Western Asset Emerging Markets Debt Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EMD. EverSource Wealth Advisors LLC acquired a new stake in Western Asset Emerging Markets Debt Fund in the 3rd quarter valued at about $116,000. Equitable Holdings Inc. purchased a new stake in shares of Western Asset Emerging Markets Debt Fund during the fourth quarter worth approximately $118,000. Evolve Private Wealth LLC purchased a new stake in shares of Western Asset Emerging Markets Debt Fund during the fourth quarter worth approximately $124,000. HRT Financial LP acquired a new stake in Western Asset Emerging Markets Debt Fund in the fourth quarter valued at approximately $127,000. Finally, Level Four Advisory Services LLC raised its holdings in Western Asset Emerging Markets Debt Fund by 8.9% in the second quarter. Level Four Advisory Services LLC now owns 13,615 shares of the company's stock valued at $137,000 after acquiring an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Company Profile

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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