Western Asset Bond ETF (NASDAQ:WABF) Trading Down 0% – Here’s Why

Shares of Western Asset Bond ETF (NASDAQ:WABF) were down 0% during trading on Tuesday . The company traded as low as $24.97 and last traded at $24.9290. 140 shares changed hands during trading, a decline of 91% from the average session volume of 1,628 shares. The stock had previously closed at $24.93.

Western Asset Bond ETF Stock Up 0.1%

The firm’s fifty day simple moving average is $25.04 and its two-hundred day simple moving average is $25.28.

Western Asset Bond ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, June 1st were given a dividend of $0.18 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Western Asset Bond ETF’s previous monthly dividend of $0.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WABF. Landmark Wealth Management LLC increased its stake in Western Asset Bond ETF by 6.3% during the fourth quarter. Landmark Wealth Management LLC now owns 146,079 shares of the company’s stock worth $3,703,000 after acquiring an additional 8,612 shares during the last quarter. Encompass More Asset Management grew its holdings in shares of Western Asset Bond ETF by 2.4% during the 4th quarter. Encompass More Asset Management now owns 50,953 shares of the company’s stock worth $1,292,000 after purchasing an additional 1,207 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Western Asset Bond ETF by 50.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,560 shares of the company’s stock worth $39,000 after purchasing an additional 524 shares during the period.

About Western Asset Bond ETF

The Western Asset Bond ETF (WABF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively manages a portfolio comprised of USD-denominated debt instruments and fixed income securities of various maturities, with limited exposure to high yield, emerging market debts, and structured securities. The fund intends to use derivatives to gain exposure, manage risks, and enhance returns. WABF was launched on Sep 19, 2023 and is issued by Franklin Templeton.