Legal & General Group Plc raised its stake in shares of Kayne Anderson Energy Development Co. (NYSE:KED) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,988 shares of the investment management company’s stock after acquiring an additional 2,137 shares during the quarter. Legal & General Group Plc’s holdings in Kayne Anderson Energy Development were worth $471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in Kayne Anderson Energy Development by 1.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the investment management company’s stock valued at $276,000 after acquiring an additional 241 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Kayne Anderson Energy Development during the 1st quarter valued at $314,000. First Financial Equity Corporation bought a new position in Kayne Anderson Energy Development during the 1st quarter valued at $357,000. Parkside Investments LLC boosted its stake in Kayne Anderson Energy Development by 22.8% during the 2nd quarter. Parkside Investments LLC now owns 24,200 shares of the investment management company’s stock valued at $439,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Kayne Anderson Energy Development by 106.5% during the 1st quarter. Bank of America Corp DE now owns 62,688 shares of the investment management company’s stock valued at $1,222,000 after acquiring an additional 32,329 shares during the last quarter.

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Kayne Anderson Energy Development Co. (KED) opened at 17.12 on Friday. The firm’s 50-day moving average is $16.75 and its 200-day moving average is $17.78. Kayne Anderson Energy Development Co. has a 1-year low of $15.71 and a 1-year high of $20.46.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend is Thursday, October 5th.

A number of research firms have commented on KED. Stifel Nicolaus set a $23.00 price objective on shares of Kayne Anderson Energy Development and gave the company a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of Kayne Anderson Energy Development from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th.

Kayne Anderson Energy Development Profile

Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The Fund’s investment objective is to generate both current income and capital appreciation, through equity and debt investments. It seeks to achieve this objective by investing approximately 80% of its total assets in securities of companies that derive their revenue from activities in the energy industry, including midstream energy companies, which operates assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, crude oil or refined petroleum products; upstream energy companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs, and other energy companies, which are engaged in owning, leasing, managing, producing, processing and selling of coal and coal reserves.

Institutional Ownership by Quarter for Kayne Anderson Energy Development (NYSE:KED)

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