Western Asset Premier Bond Fund (NYSE:WEA) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Western Asset Premier Bond Fund (NYSE:WEA)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.98 and traded as low as $10.63. Western Asset Premier Bond Fund shares last traded at $10.74, with a volume of 41,334 shares traded.

Western Asset Premier Bond Fund Stock Up 0.3 %

The stock’s fifty day moving average price is $10.97 and its 200 day moving average price is $10.97.

Western Asset Premier Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 21st will be given a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date is Friday, February 21st.

Institutional Investors Weigh In On Western Asset Premier Bond Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new position in shares of Western Asset Premier Bond Fund during the 3rd quarter worth $354,000. Private Advisor Group LLC lifted its stake in Western Asset Premier Bond Fund by 24.1% in the third quarter. Private Advisor Group LLC now owns 157,864 shares of the investment management company’s stock worth $1,781,000 after acquiring an additional 30,613 shares during the period. Benjamin Edwards Inc. bought a new position in Western Asset Premier Bond Fund during the 3rd quarter worth about $294,000. Wolverine Asset Management LLC increased its position in Western Asset Premier Bond Fund by 46.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 61,523 shares of the investment management company’s stock valued at $694,000 after purchasing an additional 19,452 shares during the period. Finally, Consolidated Portfolio Review Corp raised its holdings in shares of Western Asset Premier Bond Fund by 3.6% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 212,530 shares of the investment management company’s stock valued at $2,397,000 after purchasing an additional 7,326 shares in the last quarter.

Western Asset Premier Bond Fund Company Profile

Western Asset Premier Bond Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. The fund is co-managed by Western Asset Management Company Limited, Western Asset Management Company Pte. Ltd., and Western Asset Management Company Ltd. It invests in the fixed income markets of the United States.