Western Asset Diversified Income Fund (NYSE:WDI) Stock Falls 1.4% – Should You Sell?

Western Asset Diversified Income Fund (NYSE:WDI) traded down 1.4% on Tuesday. The stock traded as low as $11.67 and last traded at $11.68. 283,031 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 247,081 shares. The stock had previously closed at $11.85.

Western Asset Diversified Income Fund Stock Performance

The business has a 50 day simple moving average of $11.92 and a 200-day simple moving average of $13.14.

Insider Transactions at Western Asset Diversified Income Fund

In related news, insider Michael Carlton Buchanan purchased 5,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was acquired at an average cost of $11.88 per share, with a total value of $59,400.00. Following the transaction, the insider owned 20,000 shares of the company’s stock, valued at $237,600. This represents a 33.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Western Asset Diversified Income Fund

A number of hedge funds have recently bought and sold shares of WDI. Root Financial Partners LLC bought a new stake in shares of Western Asset Diversified Income Fund in the 3rd quarter worth $38,000. Allworth Financial LP boosted its holdings in Western Asset Diversified Income Fund by 125.0% during the second quarter. Allworth Financial LP now owns 4,500 shares of the company’s stock worth $61,000 after purchasing an additional 2,500 shares during the last quarter. Fifth Third Bancorp bought a new stake in Western Asset Diversified Income Fund in the 1st quarter worth about $111,000. Focus Financial Network Inc. bought a new stake in Western Asset Diversified Income Fund in the 2nd quarter worth about $144,000. Finally, Sovran Advisors LLC bought a new stake in Western Asset Diversified Income Fund in the 1st quarter worth about $150,000.

Western Asset Diversified Income Fund is a closed-end investment fund that seeks to provide high current income, with capital appreciation as a secondary objective. Rather than operating a commercial business, the fund pools investor capital to invest in a diversified portfolio of income-producing securities. The portfolio may include debt securities from U.S. and non-U.S. issuers, such as corporate bonds, below-investment-grade securities, emerging-market debt, floating-rate loans and structured credit.