Western Asset Diversified Income Fund (NYSE:WDI) Shares Down 1% – Here’s Why

Shares of Western Asset Diversified Income Fund (NYSE:WDI) fell 1% during trading on Friday . The company traded as low as $14.13 and last traded at $14.1590. 192,822 shares changed hands during trading, a decline of 23% from the average session volume of 251,398 shares. The stock had previously closed at $14.30.

Western Asset Diversified Income Fund Price Performance

The firm’s 50 day moving average price is $13.91 and its 200-day moving average price is $14.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in Western Asset Diversified Income Fund by 4.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 59,395 shares of the company’s stock worth $820,000 after buying an additional 2,717 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Western Asset Diversified Income Fund in the 4th quarter valued at approximately $262,000. Integrated Wealth Concepts LLC bought a new stake in shares of Western Asset Diversified Income Fund in the 1st quarter worth approximately $531,000. Prevail Innovative Wealth Advisors LLC lifted its position in shares of Western Asset Diversified Income Fund by 1.7% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 135,929 shares of the company’s stock worth $1,877,000 after acquiring an additional 2,261 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of Western Asset Diversified Income Fund by 710.5% during the 4th quarter. Global Retirement Partners LLC now owns 13,860 shares of the company’s stock worth $191,000 after purchasing an additional 12,150 shares in the last quarter.

Western Asset Diversified Income Fund (NYSE: WDI) is a closed-end management investment company sponsored and managed by Western Asset Management Company, LLC. Launched in mid-2009, the Fund seeks to provide current income with a secondary objective of capital preservation through diversified exposure to a broad range of fixed-income and income-oriented securities.

The Fund’s investment strategy emphasizes below-investment-grade debt instruments, including high-yield corporate bonds, bank loans, mortgage- and asset-backed securities, and emerging market sovereign and corporate issues.