Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) Short Interest Up 251.6% in May

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMDGet Rating) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 89,300 shares, a growth of 251.6% from the April 30th total of 25,400 shares. Based on an average daily volume of 418,700 shares, the days-to-cover ratio is presently 0.2 days.

Several hedge funds and other institutional investors have recently made changes to their positions in EMD. First Trust Advisors LP increased its position in shares of Western Asset Emerging Markets Debt Fund by 5.5% during the first quarter. First Trust Advisors LP now owns 229,611 shares of the company’s stock worth $3,132,000 after acquiring an additional 12,009 shares during the last quarter. Morgan Stanley raised its holdings in Western Asset Emerging Markets Debt Fund by 3.3% during the second quarter. Morgan Stanley now owns 3,245,849 shares of the company’s stock worth $45,474,000 after purchasing an additional 104,015 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Western Asset Emerging Markets Debt Fund during the third quarter worth approximately $171,000. Cohen & Steers Inc. bought a new stake in Western Asset Emerging Markets Debt Fund during the third quarter worth approximately $2,856,000. Finally, Invesco Ltd. increased its holdings in shares of Western Asset Emerging Markets Debt Fund by 9.6% in the third quarter. Invesco Ltd. now owns 1,064,245 shares of the company’s stock valued at $14,474,000 after buying an additional 92,989 shares in the last quarter.

NYSE:EMD traded up $0.25 during mid-day trading on Thursday, hitting $9.92. The company had a trading volume of 4,085 shares, compared to its average volume of 383,072. The business has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $11.41. Western Asset Emerging Markets Debt Fund has a 1 year low of $9.28 and a 1 year high of $14.30.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 24th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 9.68%. The ex-dividend date of this dividend is Tuesday, August 23rd.

Western Asset Emerging Markets Debt Fund Company Profile (Get Rating)

Western Asset Emerging Markets Debt Fund Inc is an open ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd. The fund invests in fixed income markets of emerging market countries across the globe.

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