Western Asset Emerging Markets Debt Fund (NYSE:EMD) Shares Down 0.5% – Time to Sell?

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) dropped 0.5% on Thursday . The company traded as low as $10.33 and last traded at $10.37. Approximately 269,948 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 235,482 shares. The stock had previously closed at $10.42.

Western Asset Emerging Markets Debt Fund Stock Down 0.5%

The stock’s 50 day moving average price is $10.47 and its two-hundred day moving average price is $10.65.

Western Asset Emerging Markets Debt Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.033 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%.

Hedge Funds Weigh In On Western Asset Emerging Markets Debt Fund

A number of hedge funds have recently modified their holdings of the stock. Moloney Securities Asset Management LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 60,879 shares of the company’s stock worth $628,000 after acquiring an additional 1,093 shares during the last quarter. Samalin Investment Counsel LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 3.3% in the fourth quarter. Samalin Investment Counsel LLC now owns 44,680 shares of the company’s stock worth $475,000 after acquiring an additional 1,433 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 1.6% in the first quarter. NewEdge Advisors LLC now owns 92,651 shares of the company’s stock worth $916,000 after acquiring an additional 1,464 shares during the last quarter. Comprehensive Money Management Services LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 2.3% in the first quarter. Comprehensive Money Management Services LLC now owns 79,335 shares of the company’s stock worth $779,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Western Asset Emerging Markets Debt Fund by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 66,373 shares of the company’s stock worth $706,000 after acquiring an additional 2,082 shares during the last quarter. 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 (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.