Western Asset Emerging Markets Debt Fund (NYSE:EMD) Shares Up 0.6% – Should You Buy?

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) was up 0.6% during mid-day trading on Monday. The company traded as high as $9.44 and last traded at $9.3770. Approximately 273,750 shares traded hands during 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 Stock Performance

The firm’s fifty day moving average is $9.68 and its 200 day moving average is $10.39.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new position in shares of Western Asset Emerging Markets Debt Fund during the second quarter worth approximately $5,670,000. Rareview Capital LLC raised its position in shares of Western Asset Emerging Markets Debt Fund by 8.4% in the second quarter. Rareview Capital LLC now owns 311,012 shares of the company’s stock valued at $3,126,000 after buying an additional 24,208 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Western Asset Emerging Markets Debt Fund by 68.7% in the third quarter. Commonwealth Equity Services LLC now owns 301,512 shares of the company’s stock valued at $2,822,000 after buying an additional 122,787 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Western Asset Emerging Markets Debt Fund by 21.4% in the first quarter. Royal Bank of Canada now owns 267,125 shares of the company’s stock valued at $2,624,000 after buying an additional 47,135 shares during the period. Finally, Uncommon Cents Investing Inc boosted its stake in shares of Western Asset Emerging Markets Debt Fund by 5.5% in the third quarter. Uncommon Cents Investing Inc now owns 179,111 shares of the company’s stock valued at $1,676,000 after buying an additional 9,415 shares during the period. Institutional investors own 33.05% of the company’s stock.

About Western Asset Emerging Markets Debt Fund

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.