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

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

Western Asset Diversified Income Fund Price Performance

The firm has a 50-day moving average of $11.89 and a 200 day moving average of $13.13.

Insider Activity

In other Western Asset Diversified Income Fund news, insider Michael Carlton Buchanan acquired 5,000 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $11.88 per share, for a total transaction of $59,400.00. Following the purchase, the insider owned 20,000 shares in the company, valued at $237,600. This represents a 33.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of Western Asset Diversified Income Fund

Several institutional investors have recently made changes to their positions in the business. Shaker Financial Services LLC increased its stake in Western Asset Diversified Income Fund by 530.8% in the third quarter. Shaker Financial Services LLC now owns 123,537 shares of the company’s stock valued at $1,460,000 after acquiring an additional 103,953 shares during the period. Elevation Wealth Partners LLC acquired a new position in Western Asset Diversified Income Fund in the third quarter worth about $666,000. NewEdge Advisors LLC lifted its stake in Western Asset Diversified Income Fund by 73.3% during the second quarter. NewEdge Advisors LLC now owns 64,403 shares of the company’s stock worth $873,000 after purchasing an additional 27,243 shares during the period. Royal Bank of Canada lifted its stake in Western Asset Diversified Income Fund by 9.0% during the first quarter. Royal Bank of Canada now owns 243,125 shares of the company’s stock worth $3,268,000 after purchasing an additional 20,145 shares during the period. Finally, First Trust Advisors LP lifted its stake in Western Asset Diversified Income Fund by 10.2% during the third quarter. First Trust Advisors LP now owns 213,134 shares of the company’s stock worth $2,519,000 after purchasing an additional 19,678 shares during the period.

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.