Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) Stock Price Down 0.5% – Here’s What Happened

Shares of Morgan Stanley Emerging Markets Debt Fund (NYSE:MSD) were down 0.5% during mid-day trading on Monday. The company traded as low as $6.65 and last traded at $6.7040. Approximately 107,795 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 101,507 shares. The stock had previously closed at $6.74.

Morgan Stanley Emerging Markets Debt Fund Trading Down 0.5%

The firm has a fifty day moving average of $7.06 and a 200 day moving average of $7.22.

Morgan Stanley Emerging Markets Debt Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.1450 dividend. This represents a $0.58 annualized dividend and a yield of 8.7%. This is a negative change from Morgan Stanley Emerging Markets Debt Fund’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional Trading of Morgan Stanley Emerging Markets Debt Fund

A number of hedge funds have recently made changes to their positions in the company. Beacon Pointe Advisors LLC purchased a new position in shares of Morgan Stanley Emerging Markets Debt Fund in the second quarter valued at $13,496,000. Bank of America Corp DE acquired a new stake in Morgan Stanley Emerging Markets Debt Fund during the 2nd quarter valued at $10,272,000. PenderFund Capital Management Ltd. acquired a new stake in Morgan Stanley Emerging Markets Debt Fund during the 2nd quarter valued at $2,968,000. Rareview Capital LLC purchased a new stake in Morgan Stanley Emerging Markets Debt Fund during the 1st quarter worth $2,092,000. Finally, Comprehensive Money Management Services LLC purchased a new stake in Morgan Stanley Emerging Markets Debt Fund during the 2nd quarter worth $694,000.

About Morgan Stanley Emerging Markets Debt Fund

Morgan Stanley Emerging Markets Debt Fund (NYSE: MSD) is a closed-end investment fund that seeks to provide investors with current income and, to a lesser extent, capital appreciation. The fund invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries.

Its portfolio may include sovereign and corporate bonds, loans and other fixed-income instruments denominated in local currencies or major international currencies.