Western Asset Emerging Markets Debt Fund (NYSE:EMD) Stock Price Up 0.6% – Here’s What Happened

Shares of Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD – Get Free Report) rose 0.6% on Monday. The stock traded as high as $9.44 and last traded at $9.3770. Approximately 273,750 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 222,595 shares. The stock had previously closed at $9.32.

Western Asset Emerging Markets Debt Fund Trading Up 0.6%

The firm’s 50-day moving average price is $9.73 and its 200 day moving average price is $10.40.

Western Asset Emerging Markets Debt Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd were given a dividend of $0.0950 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This is a positive change from Western Asset Emerging Markets Debt Fund’s previous monthly dividend of $0.0330. This represents a $1.14 annualized dividend and a dividend yield of 12.2%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC raised its position in Western Asset Emerging Markets Debt Fund by 26.6% during the third quarter. MeadowBrook Investment Advisors LLC now owns 6,140 shares of the company’s stock valued at $57,000 after purchasing an additional 1,290 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Western Asset Emerging Markets Debt Fund by 2.2% in the first quarter. NewEdge Advisors LLC now owns 93,448 shares of the company’s stock worth $918,000 after purchasing an additional 2,026 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Western Asset Emerging Markets Debt Fund by 23.3% during the first quarter. Arkadios Wealth Advisors now owns 14,157 shares of the company’s stock valued at $139,000 after buying an additional 2,673 shares during the period. Janney Montgomery Scott LLC increased its position in Western Asset Emerging Markets Debt Fund by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 69,423 shares of the company’s stock valued at $682,000 after purchasing an additional 3,050 shares during the period. Finally, Cetera Investment Advisers raised its stake in Western Asset Emerging Markets Debt Fund by 10.7% in the first quarter. Cetera Investment Advisers now owns 54,550 shares of the company’s stock worth $536,000 after buying an additional 5,255 shares in the last quarter. Hedge funds and other institutional investors own 33.05% of the company’s stock.

Western Asset Emerging Markets Debt Fund Company Profile

(Get Free Report)

Western Asset Emerging Markets Debt Fund (NYSE: EMD) is a closed-end investment fund managed by Western Asset Management Company, an investment manager specializing in fixed-income strategies. The fund seeks to provide investors with current income and the opportunity for capital appreciation through investments in emerging-market debt securities.

The fund invests primarily in sovereign, government-related and corporate debt issued by emerging-market countries. Its portfolio may include securities denominated in both local currencies and major international currencies, giving investors exposure to a range of developing economies and fixed-income markets.

Western Asset Management Company is part of Franklin Templeton and manages investment strategies for institutions, financial professionals and individual investors worldwide.

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