Western Asset Diversified Income Fund — Cyborg Score 6/10
Solid
Closed-end fixed income funds
Strategic Profile
The Fund seeks to achieve its investment objectives by investing across fixed income sectors and securities in seeking to deliver a diversified portfolio. Western Asset Management Company, LLC seeks to dynamically rotate investments into sectors and securities that it believes to be undervalued from a fundamental perspective with an attractive return profile and away from investments that it believes to be overvalued.
Cyborg Score Rationale
The fund has a market capitalization of $721.6M with approximately 51.9M shares outstanding. Among dividend-paying stocks, WDI ranks #53 by dividend yield. For the six months ended June 30, 2024, Western Asset Diversified Income Fund returned 5.12% based on its net asset value and 8.50% based on its NYSE market price per share.
Top Insights
The Fund invests across multiple sectors including communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, and utilities.
The Fund may invest in investment-grade and high-yield corporate debt securities, senior loans, agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, government debt, floating rate securities, bank loans, collateralized loan obligations, asset-backed securities, private debt and mortgage whole loans.
WDI ranks #53 among dividend-paying stocks by dividend yield, making it attractive to income-focused investors
Over the past year, WDI stock has gained 1.8%, reflecting modest but steady performance
Named Competitors
DoubleLine Yield Opportunities Fund — Diversified fixed-income closed-end fund
Virtus AI & Tech Opp Fund — Technology and AI-focused closed-end fund
BlackRock Resources & Commdty — Resources and commodities closed-end fund
Tortoise Energy Infrastructure — Energy infrastructure closed-end fund
AllianceBernstein Glb High Inc — Global high-income closed-end fund
Recent Developments
(June 2024) Semi-annual report filed showing 5.12% NAV return and 8.50% market price return for the six-month period
(December 2024) Form 424B5 prospectus supplement filed for up to $75,000,000 of common shares
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