Western Asset Diversified Income Fund (NYSE:WDI) Sees Significant Decrease in Short Interest

Western Asset Diversified Income Fund (NYSE:WDI) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 39,656 shares, a decline of 50.3% from the May 31st total of 79,811 shares. Based on an average daily trading volume, of 223,882 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset Diversified Income Fund Price Performance

WDI traded up $0.03 during midday trading on Tuesday, hitting $13.59. 35,217 shares of the company were exchanged, compared to its average volume of 206,596. The company’s 50 day simple moving average is $13.57 and its 200 day simple moving average is $13.70. Western Asset Diversified Income Fund has a 1-year low of $12.91 and a 1-year high of $15.28.

Western Asset Diversified Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a $0.1485 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Diversified Income Fund

A number of hedge funds have recently modified their holdings of WDI. NewEdge Advisors LLC lifted its position in Western Asset Diversified Income Fund by 4.7% in the first quarter. NewEdge Advisors LLC now owns 37,160 shares of the company’s stock valued at $499,000 after buying an additional 1,655 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Western Asset Diversified Income Fund by 9.0% in the 1st quarter. Royal Bank of Canada now owns 243,125 shares of the company’s stock worth $3,268,000 after acquiring an additional 20,145 shares during the period. Punch & Associates Investment Management Inc. purchased a new position in Western Asset Diversified Income Fund in the 1st quarter valued at approximately $159,000. Cetera Investment Advisers raised its holdings in Western Asset Diversified Income Fund by 20.8% during the first quarter. Cetera Investment Advisers now owns 52,380 shares of the company’s stock worth $704,000 after purchasing an additional 9,006 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Western Asset Diversified Income Fund by 11.0% during the first quarter. First Trust Advisors LP now owns 181,772 shares of the company’s stock worth $2,443,000 after purchasing an additional 18,017 shares in the last quarter.

Western Asset Diversified Income Fund (NYSE: WDI) is a closed-end management investment company sponsored and managed by Western Asset Management Company, LLC. Launched in mid-2009, the Fund seeks to provide current income with a secondary objective of capital preservation through diversified exposure to a broad range of fixed-income and income-oriented securities.

The Fund’s investment strategy emphasizes below-investment-grade debt instruments, including high-yield corporate bonds, bank loans, mortgage- and asset-backed securities, and emerging market sovereign and corporate issues.