Western Asset Diversified Income Fund (NYSE:WDI) Sees Large Drop in Short Interest

Western Asset Diversified Income Fund (NYSE:WDI) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 39,656 shares, a drop of 50.3% from the May 31st total of 79,811 shares. Based on an average daily volume of 223,882 shares, the days-to-cover ratio is currently 0.2 days.

Western Asset Diversified Income Fund Price Performance

WDI stock traded up $0.10 during midday trading on Wednesday, reaching $13.66. The company had a trading volume of 280,044 shares, compared to its average volume of 208,132. Western Asset Diversified Income Fund has a 1 year low of $12.91 and a 1 year high of $15.28. The firm has a 50-day moving average price of $13.56 and a 200-day moving average price of $13.69.

Western Asset Diversified Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.1485 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 13.0%.

Institutional Trading of Western Asset Diversified Income Fund

A number of hedge funds have recently bought and sold shares of the company. &PARTNERS purchased a new stake in Western Asset Diversified Income Fund in the fourth quarter worth approximately $3,105,000. Readystate Asset Management LP bought a new stake in shares of Western Asset Diversified Income Fund in the 4th quarter worth approximately $2,907,000. Sit Investment Associates Inc. purchased a new stake in shares of Western Asset Diversified Income Fund in the 4th quarter valued at $2,647,000. Shaker Financial Services LLC purchased a new stake in shares of Western Asset Diversified Income Fund in the 4th quarter valued at $1,859,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Western Asset Diversified Income Fund during the 4th quarter valued at $1,226,000.

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.