Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Stock Short Interest Declines 78.7%

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 30,627 shares, a drop of 78.7% from the September 15th total of 143,715 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 239,281 shares, the days-to-cover ratio is presently 0.1 days.

Western Asset Emerging Markets Debt Fund Stock Performance

Western Asset Emerging Markets Debt Fund stock traded up $0.09 during mid-day trading on Friday, hitting $9.30. The company’s stock had a trading volume of 191,501 shares, compared to its average volume of 214,037. The business has a 50 day moving average price of $10.14 and a 200-day moving average price of $10.39. Western Asset Emerging Markets Debt Fund has a 12 month low of $9.10 and a 12 month high of $11.30.

Western Asset Emerging Markets Debt Fund Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd were issued a $0.0950 dividend. This is an increase 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 12.3%. The ex-dividend date was Wednesday, September 23rd.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in Western Asset Emerging Markets Debt Fund in the 2nd quarter worth approximately $5,670,000. Rareview Capital LLC boosted its stake in shares of Western Asset Emerging Markets Debt Fund by 8.4% during the second quarter. Rareview Capital LLC now owns 311,012 shares of the company’s stock valued at $3,126,000 after purchasing an additional 24,208 shares during the period. Royal Bank of Canada boosted its stake in shares of 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 during the period. NewEdge Advisors LLC grew its holdings in shares of Western Asset Emerging Markets Debt Fund by 16.6% in the second quarter. NewEdge Advisors LLC now owns 108,981 shares of the company’s stock worth $1,170,000 after purchasing an additional 15,533 shares during the last quarter. Finally, Comprehensive Money Management Services LLC bought a new position in shares of Western Asset Emerging Markets Debt Fund in the second quarter worth approximately $892,000. 33.05% of the stock is currently owned by hedge funds and other institutional investors.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund (NYSE: EMD) is a closed-end investment fund focused on debt securities issued by governments, government-related entities and companies in emerging-market countries. The fund seeks to provide investors with current income and, to a lesser extent, capital appreciation through an actively managed portfolio of emerging-markets fixed-income investments.

Its investments may include sovereign and quasi-sovereign bonds, corporate debt, local-currency and hard-currency securities, and other fixed-income instruments.