Western Asset Emerging Markets Debt Fund (NYSE:EMD) Shares Up 0.8% – Should You Buy?

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) shot up 0.8% during mid-day trading on Friday . The stock traded as high as $10.74 and last traded at $10.6950. Approximately 180,750 shares were traded during trading, a decline of 19% from the average daily volume of 223,797 shares. The stock had previously closed at $10.61.

Western Asset Emerging Markets Debt Fund Price Performance

The company has a 50-day moving average of $10.61 and a 200 day moving average of $10.65.

Western Asset Emerging Markets Debt Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.033 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 3.7%.

Institutional Trading of Western Asset Emerging Markets Debt Fund

A number of institutional investors have recently bought and sold shares of the stock. Waterfront Wealth Inc. purchased a new position in shares of Western Asset Emerging Markets Debt Fund during the 1st quarter worth about $106,000. EverSource Wealth Advisors LLC purchased a new position in shares of Western Asset Emerging Markets Debt Fund during the third quarter valued at approximately $116,000. Equitable Holdings Inc. bought a new position in shares of Western Asset Emerging Markets Debt Fund during the fourth quarter valued at approximately $118,000. Evolve Private Wealth LLC bought a new position in shares of Western Asset Emerging Markets Debt Fund during the fourth quarter valued at approximately $124,000. Finally, HRT Financial LP purchased a new stake in shares of Western Asset Emerging Markets Debt Fund in the fourth quarter worth approximately $127,000. 33.05% of the stock is currently owned by institutional investors.

About Western Asset Emerging Markets Debt Fund

Western Asset Emerging Markets Debt Fund Inc (NYSE: EMD) is a closed-end management investment company launched in December 2004 and managed by Western Asset Management Company, a global fixed-income specialist. The fund seeks to provide a high level of current income by investing primarily in debt securities issued by sovereign, quasi-sovereign and corporate issuers in emerging markets. Its diversified approach combines top-down macroeconomic analysis with bottom-up credit research to identify attractive risk-adjusted opportunities across developing economies.

EMD’s portfolio spans a wide range of instruments, including sovereign government bonds, supranational obligations, corporate credits and other fixed-income securities.