Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Stock Short Interest Drops 78.7%

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 30,627 shares, a drop of 78.7% from the September 15th total of 143,715 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 239,281 shares, the short-interest ratio is presently 0.1 days.

Western Asset Emerging Markets Debt Fund Price Performance

Shares of EMD stock traded down $0.10 during mid-day trading on Tuesday, hitting $9.21. The company had a trading volume of 26,938 shares, compared to its average volume of 214,197. Western Asset Emerging Markets Debt Fund has a 52-week low of $9.10 and a 52-week high of $11.30. The stock’s 50 day moving average price is $10.11 and its 200-day moving average price is $10.38.

Western Asset Emerging Markets Debt Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.0950 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This is a positive change from Western Asset Emerging Markets Debt Fund’s previous monthly dividend of $0.0330. This represents a $1.14 annualized dividend and a yield of 12.4%.

Institutional Trading of Western Asset Emerging Markets Debt Fund

Several hedge funds have recently bought and sold shares of EMD. Bank of America Corp DE purchased a new stake in shares of Western Asset Emerging Markets Debt Fund during the 2nd quarter worth approximately $5,670,000. Rareview Capital LLC boosted its position in shares of Western Asset Emerging Markets Debt Fund by 8.4% during the 2nd quarter. Rareview Capital LLC now owns 311,012 shares of the company’s stock valued at $3,126,000 after acquiring an additional 24,208 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Western Asset Emerging Markets Debt Fund by 21.4% during the 1st quarter. Royal Bank of Canada now owns 267,125 shares of the company’s stock valued at $2,624,000 after acquiring an additional 47,135 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Western Asset Emerging Markets Debt Fund by 16.6% in the second quarter. NewEdge Advisors LLC now owns 108,981 shares of the company’s stock valued at $1,170,000 after purchasing an additional 15,533 shares in the last quarter. Finally, Comprehensive Money Management Services LLC purchased a new position in shares of Western Asset Emerging Markets Debt Fund in the second quarter valued at $892,000. Hedge funds and other institutional investors own 33.05% of the company’s stock.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund (NYSE: EMD) is a closed-end investment fund focused on debt securities issued by governments, government-related entities and companies in emerging-market countries. The fund seeks to provide investors with current income and, to a lesser extent, capital appreciation through an actively managed portfolio of emerging-markets fixed-income investments.

Its investments may include sovereign and quasi-sovereign bonds, corporate debt, local-currency and hard-currency securities, and other fixed-income instruments.