Western Asset Diversified Income Fund (NYSE:WDI) Trading Up 0.6% – Time to Buy?

Western Asset Diversified Income Fund (NYSE:WDI)’s share price rose 0.6% during trading on Tuesday . The stock traded as high as $13.65 and last traded at $13.6240. Approximately 140,039 shares were traded during trading, a decline of 31% from the average daily volume of 203,763 shares. The stock had previously closed at $13.54.

Western Asset Diversified Income Fund Price Performance

The business’s 50-day moving average is $13.51 and its two-hundred day moving average is $13.66.

Western Asset Diversified Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a $0.1485 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 13.3%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its position in Western Asset Diversified Income Fund by 0.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 475,973 shares of the company’s stock valued at $6,454,000 after purchasing an additional 2,011 shares during the period. Bank of America Corp DE raised its stake in shares of Western Asset Diversified Income Fund by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 438,469 shares of the company’s stock worth $6,507,000 after buying an additional 12,246 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of Western Asset Diversified Income Fund by 2.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 262,130 shares of the company’s stock valued at $3,856,000 after buying an additional 5,124 shares during the period. Royal Bank of Canada lifted its holdings in shares of Western Asset Diversified Income Fund by 9.0% in the 1st quarter. Royal Bank of Canada now owns 243,125 shares of the company’s stock valued at $3,268,000 after buying an additional 20,145 shares during the period. Finally, &PARTNERS acquired a new stake in shares of Western Asset Diversified Income Fund in the 4th quarter valued at approximately $3,105,000.

Western Asset Diversified Income Fund (NYSE: WDI) is a closed-end management investment company sponsored and managed by Western Asset Management Company, LLC. Launched in mid-2009, the Fund seeks to provide current income with a secondary objective of capital preservation through diversified exposure to a broad range of fixed-income and income-oriented securities.

The Fund’s investment strategy emphasizes below-investment-grade debt instruments, including high-yield corporate bonds, bank loans, mortgage- and asset-backed securities, and emerging market sovereign and corporate issues.