Western Asset Emerging Markets Debt Fund (NYSE:EMD) Shares Up 1.7% – Time to Buy?

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD)’s share price was up 1.7% during mid-day trading on Monday . The stock traded as high as $10.24 and last traded at $10.2050. Approximately 160,183 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 241,742 shares. The stock had previously closed at $10.03.

Western Asset Emerging Markets Debt Fund Price Performance

The stock’s 50-day moving average is $10.82 and its 200 day moving average is $10.63.

Western Asset Emerging Markets Debt Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 11.2%.

Institutional Trading of Western Asset Emerging Markets Debt Fund

Several institutional investors and hedge funds have recently made changes to their positions in EMD. Morgan Stanley lifted its holdings in shares of Western Asset Emerging Markets Debt Fund by 4.1% in the 4th quarter. Morgan Stanley now owns 8,968,464 shares of the company’s stock valued at $95,335,000 after purchasing an additional 354,205 shares during the last quarter. Raymond James Financial Inc. increased its position in Western Asset Emerging Markets Debt Fund by 38.1% during the third quarter. Raymond James Financial Inc. now owns 491,657 shares of the company’s stock worth $5,074,000 after buying an additional 135,673 shares during the period. Penserra Capital Management LLC increased its position in Western Asset Emerging Markets Debt Fund by 20.4% during the third quarter. Penserra Capital Management LLC now owns 623,598 shares of the company’s stock worth $6,435,000 after buying an additional 105,855 shares during the period. Osaic Holdings Inc. lifted its stake in Western Asset Emerging Markets Debt Fund by 103.5% in the second quarter. Osaic Holdings Inc. now owns 159,904 shares of the company’s stock valued at $1,607,000 after buying an additional 81,318 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Western Asset Emerging Markets Debt Fund by 16.4% in the fourth quarter. Guggenheim Capital LLC now owns 448,049 shares of the company’s stock valued at $4,763,000 after buying an additional 63,113 shares during the last quarter. 33.05% of the stock is owned by hedge funds and other institutional investors.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund Inc (NYSE: EMD) is a closed-end management investment company launched in December 2004 and managed by Western Asset Management Company, a global fixed-income specialist. The fund seeks to provide a high level of current income by investing primarily in debt securities issued by sovereign, quasi-sovereign and corporate issuers in emerging markets. Its diversified approach combines top-down macroeconomic analysis with bottom-up credit research to identify attractive risk-adjusted opportunities across developing economies.

EMD’s portfolio spans a wide range of instruments, including sovereign government bonds, supranational obligations, corporate credits and other fixed-income securities.