Western Asset Premier Bond Fund (NYSE:WEA) Stock Passes Above 50 Day Moving Average – Here’s Why

Western Asset Premier Bond Fund (NYSE:WEA)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.14 and traded as high as $11.26. Western Asset Premier Bond Fund shares last traded at $11.14, with a volume of 62,948 shares trading hands.

Western Asset Premier Bond Fund Stock Performance

The company has a 50-day moving average of $11.15 and a 200-day moving average of $10.90.

Western Asset Premier Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 21st will be issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date of this dividend is Thursday, November 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WEA. Consolidated Portfolio Review Corp increased its holdings in shares of Western Asset Premier Bond Fund by 62.5% in the second quarter. Consolidated Portfolio Review Corp now owns 205,204 shares of the investment management company’s stock valued at $2,153,000 after purchasing an additional 78,895 shares during the period. Private Advisor Group LLC boosted its stake in shares of Western Asset Premier Bond Fund by 9.4% in the second quarter. Private Advisor Group LLC now owns 127,251 shares of the investment management company’s stock worth $1,335,000 after buying an additional 10,978 shares during the last quarter. ProVise Management Group LLC boosted its stake in shares of Western Asset Premier Bond Fund by 2.5% in the second quarter. ProVise Management Group LLC now owns 125,249 shares of the investment management company’s stock worth $1,314,000 after buying an additional 3,100 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Western Asset Premier Bond Fund by 12.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 24,200 shares of the investment management company’s stock worth $254,000 after buying an additional 2,592 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Western Asset Premier Bond Fund in the third quarter worth about $354,000.

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.