Western Asset Diversified Income Fund (NYSE:WDI) Sees Significant Decrease in Short Interest

Western Asset Diversified Income Fund (NYSE:WDI) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 41,929 shares, a decline of 65.6% from the July 15th total of 122,013 shares. Based on an average daily trading volume, of 199,136 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset Diversified Income Fund Stock Performance

NYSE:WDI traded down $0.04 during mid-day trading on Friday, hitting $13.21. 87,427 shares of the stock traded hands, compared to its average volume of 205,009. Western Asset Diversified Income Fund has a 52 week low of $12.91 and a 52 week high of $15.28. The firm’s 50 day moving average is $13.38 and its two-hundred day moving average is $13.59.

Western Asset Diversified Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.1485 dividend. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Friday, November 20th.

Insiders Place Their Bets

In other Western Asset Diversified Income Fund news, Director Nisha Kumar sold 13,886 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.14, for a total transaction of $182,462.04. Following the transaction, the director owned 6,750 shares in the company, valued at $88,695. The trade was a 67.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On Western Asset Diversified Income Fund

Hedge funds have recently bought and sold shares of the business. Focus Financial Network Inc. purchased a new stake in shares of Western Asset Diversified Income Fund during the second quarter valued at $144,000. Hennion & Walsh Asset Management Inc. boosted its position in Western Asset Diversified Income Fund by 0.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 475,973 shares of the company’s stock valued at $6,454,000 after buying an additional 2,011 shares during the period. NewEdge Advisors LLC boosted its position in Western Asset Diversified Income Fund by 4.7% in the 1st quarter. NewEdge Advisors LLC now owns 37,160 shares of the company’s stock valued at $499,000 after buying an additional 1,655 shares during the period. Royal Bank of Canada grew its stake in 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 worth $3,268,000 after acquiring an additional 20,145 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new position in shares of Western Asset Diversified Income Fund during the first quarter worth approximately $159,000.

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.