Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Sees Significant Growth in Short Interest

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMDGet Free Report) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 256,574 shares, a growth of 99.7% from the July 15th total of 128,485 shares. Based on an average trading volume of 189,486 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.9% of the company’s shares are sold short.

Western Asset Emerging Markets Debt Fund Price Performance

Shares of NYSE:EMD traded up $0.12 during trading on Monday, hitting $10.57. The company had a trading volume of 175,038 shares, compared to its average volume of 212,889. Western Asset Emerging Markets Debt Fund has a one year low of $9.60 and a one year high of $11.30. The company has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $10.61.

Western Asset Emerging Markets Debt Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.095 per share. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date is Wednesday, September 23rd. This is a boost from Western Asset Emerging Markets Debt Fund’s previous monthly dividend of $0.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Gould Asset Management LLC CA purchased a new stake in shares of Western Asset Emerging Markets Debt Fund in the second quarter worth approximately $604,000. Fifth Third Bancorp bought a new stake in shares of Western Asset Emerging Markets Debt Fund during the 1st quarter worth approximately $254,000. Waterfront Wealth Inc. purchased a new position in Western Asset Emerging Markets Debt Fund during the 1st quarter valued at $106,000. Private Advisor Group LLC grew its position in Western Asset Emerging Markets Debt Fund by 43.0% in the 1st quarter. Private Advisor Group LLC now owns 22,910 shares of the company’s stock valued at $225,000 after acquiring an additional 6,890 shares during the last quarter. Finally, Comprehensive Money Management Services LLC grew its position in Western Asset Emerging Markets Debt Fund by 2.3% in the 1st quarter. Comprehensive Money Management Services LLC now owns 79,335 shares of the company’s stock valued at $779,000 after acquiring an additional 1,800 shares during the last quarter. 33.05% of the stock is owned by hedge funds and other institutional investors.

Western Asset Emerging Markets Debt Fund Company Profile

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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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