Western Asset Emerging Markets Debt Fund (NYSE:EMD) Trading Down 0.5% - Should You Sell?

Key Points

• Western Asset Emerging Markets Debt Fund (NYSE: EMD) fell 0.5% on Friday, trading as low as $10.60 before last changing hands at $10.6440. Trading volume jumped to 407,437 shares, well above its average session volume.
• The fund announced a monthly dividend of $0.033 per share, payable on August 31 to shareholders of record on August 24. The dividend implies an annualized yield of about 3.7%.
• Institutional investors have been active in the stock, with several firms opening new positions and institutional ownership at 33.05%. The fund continues to focus on emerging markets debt for current income.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) shares fell 0.5% on Friday . The stock traded as low as $10.60 and last traded at $10.6440. 407,437 shares traded hands during trading, an increase of 84% from the average session volume of 221,940 shares. The stock had previously closed at $10.70.

Western Asset Emerging Markets Debt Fund Trading Down 0.5%

The business's 50-day moving average price is $10.59 and its 200 day moving average price is $10.65.

Western Asset Emerging Markets Debt Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.033 per share. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Western Asset Emerging Markets Debt Fund

A number of large investors have recently modified their holdings of the business. Waterfront Wealth Inc. bought a new position in shares of Western Asset Emerging Markets Debt Fund in the first quarter worth approximately $106,000. Equitable Holdings Inc. bought a new position in shares of Western Asset Emerging Markets Debt Fund in the 4th quarter worth $118,000. Evolve Private Wealth LLC purchased a new stake in shares of Western Asset Emerging Markets Debt Fund during the 4th quarter valued at $124,000. HRT Financial LP bought a new stake in shares of Western Asset Emerging Markets Debt Fund during the 4th quarter worth $127,000. Finally, Arkadios Wealth Advisors grew its position in Western Asset Emerging Markets Debt Fund by 23.3% in the first quarter. Arkadios Wealth Advisors now owns 14,157 shares of the company's stock worth $139,000 after acquiring an additional 2,673 shares in the last quarter. 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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