Western Asset Emerging Markets Debt Fund (NYSE:EMD) Trading Up 0.8% – Time to Buy?

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD – Get Free Report) shot up 0.8% during trading on Friday . The stock traded as high as $10.74 and last traded at $10.6950. Approximately 180,750 shares changed hands during trading, a decline of 19% from the average daily volume of 223,797 shares. The stock had previously closed at $10.61.

Western Asset Emerging Markets Debt Fund Stock Up 0.8%

The company’s 50 day moving average price is $10.61 and its two-hundred day moving average price is $10.65.

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Western Asset Emerging Markets Debt Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EMD. NewEdge Advisors LLC boosted its stake in shares of Western Asset Emerging Markets Debt Fund by 2.2% during the 1st quarter. NewEdge Advisors LLC now owns 93,448 shares of the company’s stock worth $918,000 after acquiring an additional 2,026 shares during the last quarter. Bank of America Corp DE raised its holdings in Western Asset Emerging Markets Debt Fund by 19.6% in the 1st quarter. Bank of America Corp DE now owns 522,239 shares of the company’s stock worth $5,128,000 after purchasing an additional 85,592 shares during the period. Arkadios Wealth Advisors raised its holdings in Western Asset Emerging Markets Debt Fund by 23.3% in the 1st quarter. Arkadios Wealth Advisors now owns 14,157 shares of the company’s stock worth $139,000 after purchasing an additional 2,673 shares during the period. Royal Bank of Canada lifted its position in Western Asset Emerging Markets Debt Fund by 21.4% during the first quarter. Royal Bank of Canada now owns 267,125 shares of the company’s stock valued at $2,624,000 after purchasing an additional 47,135 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Western Asset Emerging Markets Debt Fund by 10.7% during the first quarter. Cetera Investment Advisers now owns 54,550 shares of the company’s stock valued at $536,000 after purchasing an additional 5,255 shares in the last quarter. 33.05% of the stock is currently owned by institutional investors.

About Western Asset Emerging Markets Debt Fund

(Get Free Report)

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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