Western Asset Premier Bond Fund (NYSE:WEA) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Western Asset Premier Bond Fund (NYSE:WEA) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.84 and traded as low as $10.73. Western Asset Premier Bond Fund shares last traded at $10.78, with a volume of 9,462 shares trading hands.

Western Asset Premier Bond Fund Trading Up 0.2%

The company’s 50 day moving average price is $10.67 and its 200-day moving average price is $10.84.

Western Asset Premier Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 22nd will be issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.80%. The ex-dividend date of this dividend is Friday, August 22nd.

Institutional Investors Weigh In On Western Asset Premier Bond Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Western Asset Premier Bond Fund in the 4th quarter valued at about $2,753,000. Raymond James Financial Inc. purchased a new position in Western Asset Premier Bond Fund in the fourth quarter valued at approximately $1,668,000. StoneX Group Inc. acquired a new position in Western Asset Premier Bond Fund during the fourth quarter valued at approximately $872,000. Advisory Services Network LLC purchased a new stake in Western Asset Premier Bond Fund during the fourth quarter worth approximately $636,000. Finally, Private Advisor Group LLC grew its stake in Western Asset Premier Bond Fund by 17.9% during the first quarter. Private Advisor Group LLC now owns 194,175 shares of the investment management company’s stock worth $2,177,000 after buying an additional 29,527 shares during the period.

About Western Asset Premier Bond Fund

Western Asset Premier Bond Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. The fund is co-managed by Western Asset Management Company Limited, Western Asset Management Company Pte. Ltd., and Western Asset Management Company Ltd. It invests in the fixed income markets of the United States.