Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE:EDD) Shares Shorted: Short Interest Down 42.7% in September

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE:EDD) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 432,494 shares, a decline of 42.7% from the September 15th total of 754,851 shares. Based on an average daily volume of 381,021 shares, the days-to-cover ratio is currently 1.1 days.

Morgan Stanley Emerging Markets Domestic Debt Fund Stock Performance

Shares of NYSE:EDD traded up $0.03 during trading on Friday, reaching $5.41. 380,182 shares of the company traded hands, compared to its average volume of 423,526. Morgan Stanley Emerging Markets Domestic Debt Fund has a 52-week low of $4.96 and a 52-week high of $6.18. The business’s fifty day moving average is $5.68 and its 200-day moving average is $5.65.

Morgan Stanley Emerging Markets Domestic Debt Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 15.5%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a decrease from Morgan Stanley Emerging Markets Domestic Debt Fund’s previous quarterly dividend of $0.24.

Institutional Investors Weigh In On Morgan Stanley Emerging Markets Domestic Debt Fund

A number of large investors have recently added to or reduced their stakes in EDD. Rareview Capital LLC increased its position in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 9.3% in the second quarter. Rareview Capital LLC now owns 1,048,147 shares of the investment management company’s stock valued at $6,163,000 after acquiring an additional 89,374 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 1.7% during the second quarter. HighTower Advisors LLC now owns 254,694 shares of the investment management company’s stock worth $1,498,000 after purchasing an additional 4,239 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 8.5% during the first quarter. Cetera Investment Advisers now owns 198,035 shares of the investment management company’s stock worth $1,004,000 after purchasing an additional 15,466 shares during the period. Royal Bank of Canada grew its stake in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 4.1% in the first quarter. Royal Bank of Canada now owns 189,142 shares of the investment management company’s stock worth $959,000 after purchasing an additional 7,427 shares during the last quarter. Finally, Kaizen Financial Strategies grew its stake in shares of Morgan Stanley Emerging Markets Domestic Debt Fund by 11.7% in the third quarter. Kaizen Financial Strategies now owns 132,501 shares of the investment management company’s stock worth $697,000 after purchasing an additional 13,885 shares during the last quarter.

Morgan Stanley Emerging Markets Domestic Debt Fund Company Profile

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc (NYSE: EDD) is a closed-end investment fund managed by Morgan Stanley Investment Management. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in debt securities issued in the domestic markets of emerging-market countries.

Its portfolio may include local-currency government bonds, sovereign and government-related obligations, and debt issued by corporations and other entities in emerging economies.