Western Asset Diversified Income Fund (NYSE:WDI) Trading Down 1% – Time to Sell?

Western Asset Diversified Income Fund (NYSE:WDI)’s stock price traded down 1% during mid-day trading on Friday . The company traded as low as $14.13 and last traded at $14.1590. 192,822 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 251,398 shares. The stock had previously closed at $14.30.

Western Asset Diversified Income Fund Trading Down 1.0%

The company has a fifty day simple moving average of $13.91 and a two-hundred day simple moving average of $14.44.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WDI. Royal Bank of Canada boosted its position in Western Asset Diversified Income Fund by 15.1% during the first quarter. Royal Bank of Canada now owns 212,244 shares of the company’s stock worth $3,067,000 after purchasing an additional 27,777 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Western Asset Diversified Income Fund in the first quarter worth $531,000. Jane Street Group LLC boosted its holdings in shares of Western Asset Diversified Income Fund by 8.8% during the 1st quarter. Jane Street Group LLC now owns 17,284 shares of the company’s stock worth $250,000 after buying an additional 1,393 shares during the period. Envestnet Asset Management Inc. grew its stake in Western Asset Diversified Income Fund by 23.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,466 shares of the company’s stock valued at $348,000 after buying an additional 4,386 shares during the last quarter. Finally, Wedbush Securities Inc. raised its holdings in Western Asset Diversified Income Fund by 22.7% in the 2nd quarter. Wedbush Securities Inc. now owns 25,159 shares of the company’s stock worth $373,000 after acquiring an additional 4,651 shares during the period.

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.