Short Interest in Western Asset Bond ETF (NASDAQ:WABF) Drops By 14.9%

Western Asset Bond ETF (NASDAQ:WABF) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,882 shares, a drop of 14.9% from the March 31st total of 2,212 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 614 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Western Asset Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Western Asset Bond ETF by 50.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,560 shares of the company’s stock worth $39,000 after purchasing an additional 524 shares during the period. Encompass More Asset Management grew its position in Western Asset Bond ETF by 2.4% during the 4th quarter. Encompass More Asset Management now owns 50,953 shares of the company’s stock worth $1,292,000 after purchasing an additional 1,207 shares during the period. Finally, Landmark Wealth Management LLC grew its position in Western Asset Bond ETF by 7.2% during the 3rd quarter. Landmark Wealth Management LLC now owns 137,467 shares of the company’s stock worth $3,506,000 after purchasing an additional 9,260 shares during the period.

Western Asset Bond ETF Stock Performance

Shares of WABF stock opened at $25.16 on Friday. The business has a fifty day moving average of $25.31 and a 200 day moving average of $25.42. Western Asset Bond ETF has a 1 year low of $24.52 and a 1 year high of $25.79.

Western Asset Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, April 6th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.0942 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a c) annualized dividend and a yield of 4.5%. This is an increase from Western Asset Bond ETF’s previous monthly dividend of $0.08.

About Western Asset Bond ETF

The Western Asset Bond ETF (WABF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively manages a portfolio comprised of USD-denominated debt instruments and fixed income securities of various maturities, with limited exposure to high yield, emerging market debts, and structured securities. The fund intends to use derivatives to gain exposure, manage risks, and enhance returns. WABF was launched on Sep 19, 2023 and is issued by Franklin Templeton.