Western Asset Diversified Income Fund (NYSE:WDI) Shares Climb 0.6% – Here’s Why

Western Asset Diversified Income Fund (NYSE:WDI)’s stock price rose 0.6% during mid-day trading on Friday. The stock traded as high as $11.96 and last traded at $11.9220. 332,499 shares traded hands during trading, an increase of 51% from the average session volume of 220,373 shares. The stock had previously closed at $11.85.

Western Asset Diversified Income Fund Stock Up 0.6%

The stock’s fifty day simple moving average is $12.83 and its 200-day simple moving average is $13.29.

Western Asset Diversified Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.1485 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 14.9%.

Insider Buying and Selling

In related news, Director Nisha Kumar sold 13,886 shares of Western Asset Diversified Income Fund stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.14, for a total transaction of $182,462.04. Following the completion of the transaction, the director directly owned 6,750 shares in the company, valued at approximately $88,695. This trade represents a 67.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Western Asset Diversified Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its stake 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 in the last quarter. Royal Bank of Canada lifted its position in shares of Western Asset Diversified Income Fund by 9.0% in the first quarter. Royal Bank of Canada now owns 243,125 shares of the company’s stock valued at $3,268,000 after acquiring an additional 20,145 shares in the last quarter. Sit Investment Associates Inc. purchased a new position in shares of Western Asset Diversified Income Fund in the fourth quarter valued at approximately $2,647,000. First Trust Advisors LP boosted its stake in shares of Western Asset Diversified Income Fund by 11.0% in the first quarter. First Trust Advisors LP now owns 181,772 shares of the company’s stock worth $2,443,000 after acquiring an additional 18,017 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Western Asset Diversified Income Fund by 73.3% in the second quarter. NewEdge Advisors LLC now owns 64,403 shares of the company’s stock worth $873,000 after acquiring an additional 27,243 shares during the last quarter.

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.