Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE:EDD) Sees Large Drop in Short Interest

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE:EDD) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 432,494 shares, a drop of 42.7% from the September 15th total of 754,851 shares. Based on an average daily volume of 381,021 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Morgan Stanley Emerging Markets Domestic Debt Fund

Large investors have recently modified their holdings of the stock. Rareview Capital LLC raised its stake in Morgan Stanley Emerging Markets Domestic Debt Fund by 9.3% during the 2nd quarter. Rareview Capital LLC now owns 1,048,147 shares of the investment management company’s stock valued at $6,163,000 after acquiring an additional 89,374 shares in the last quarter. HighTower Advisors LLC increased its stake in Morgan Stanley Emerging Markets Domestic Debt Fund by 1.7% during the 2nd quarter. HighTower Advisors LLC now owns 254,694 shares of the investment management company’s stock valued at $1,498,000 after buying an additional 4,239 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 8.5% in the first quarter. Cetera Investment Advisers now owns 198,035 shares of the investment management company’s stock valued at $1,004,000 after acquiring an additional 15,466 shares in the last quarter. Royal Bank of Canada boosted its stake in Morgan Stanley Emerging Markets Domestic Debt Fund by 4.1% during the 1st quarter. Royal Bank of Canada now owns 189,142 shares of the investment management company’s stock valued at $959,000 after purchasing an additional 7,427 shares in the last quarter. Finally, Kaizen Financial Strategies lifted its holdings in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 11.7% in the third quarter. Kaizen Financial Strategies now owns 132,501 shares of the investment management company’s stock valued at $697,000 after buying an additional 13,885 shares during the period.

Morgan Stanley Emerging Markets Domestic Debt Fund Trading Up 3.2%

Shares of EDD traded up $0.17 during midday trading on Thursday, reaching $5.38. 651,022 shares of the company were exchanged, compared to its average volume of 423,413. Morgan Stanley Emerging Markets Domestic Debt Fund has a 1-year low of $4.96 and a 1-year high of $6.18. The stock has a 50-day moving average price of $5.71 and a 200-day moving average price of $5.65.

Morgan Stanley Emerging Markets Domestic Debt Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a negative change from Morgan Stanley Emerging Markets Domestic Debt Fund’s previous quarterly dividend of $0.24.

About Morgan Stanley Emerging Markets Domestic Debt Fund

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc (NYSE: EDD) is a closed-end investment fund managed by Morgan Stanley Investment Management. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in debt securities issued in the domestic markets of emerging-market countries.

Its portfolio may include local-currency government bonds, sovereign and government-related obligations, and debt issued by corporations and other entities in emerging economies.