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

by · The Markets Daily

Western Asset Diversified Income Fund (NYSE:WDI – Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 41,929 shares, a drop of 65.6% from the July 15th total of 122,013 shares. Based on an average daily trading volume, of 199,136 shares, the days-to-cover ratio is presently 0.2 days.

Western Asset Diversified Income Fund Price Performance

Shares of NYSE:WDI traded up $0.00 during trading on Friday, hitting $13.25. 141,004 shares of the stock were exchanged, compared to its average volume of 205,388. Western Asset Diversified Income Fund has a 1-year low of $12.91 and a 1-year high of $15.28. The company’s fifty day simple moving average is $13.38 and its 200-day simple moving average is $13.59.

Western Asset Diversified Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.1485 dividend. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Friday, November 20th.

Insider Transactions at Western Asset Diversified Income Fund

In related news, Director Nisha Kumar sold 13,886 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $13.14, for a total transaction of $182,462.04. Following the transaction, the director directly owned 6,750 shares in the company, valued at $88,695. The trade was a 67.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Western Asset Diversified Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Focus Financial Network Inc. acquired a new position in shares of Western Asset Diversified Income Fund in the 2nd quarter valued at $144,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Western Asset Diversified Income Fund by 0.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 475,973 shares of the company’s stock valued at $6,454,000 after acquiring an additional 2,011 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Western Asset Diversified Income Fund by 4.7% during the 1st quarter. NewEdge Advisors LLC now owns 37,160 shares of the company’s stock valued at $499,000 after acquiring an additional 1,655 shares in the last quarter. Royal Bank of Canada increased its stake in Western Asset Diversified Income Fund by 9.0% in the first quarter. Royal Bank of Canada now owns 243,125 shares of the company’s stock valued at $3,268,000 after acquiring an additional 20,145 shares during the period. Finally, Punch & Associates Investment Management Inc. bought a new stake in Western Asset Diversified Income Fund in the first quarter valued at about $159,000.

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.

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