Short-term stake in Stone Harbor Emerging Markets Income Fund (NYSE:EDF) drops 33.9%

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The Stone Harbor Emerging Markets Income Fund (NYSE:EDF – Get Rating) benefited from a significant drop in short-term interest rates in May. As of May 15, there was short interest totaling 63,100 shares, down 33.9% from April 30’s total of 95,500 shares. Based on an average daily trading volume of 65,200 shares, the short-term interest rate ratio is currently 1.0 day.

Hedge funds and other institutional investors have recently changed their stakes in the company. Princeton Global Asset Management LLC acquired a new stake in Stone Harbor Emerging Markets Income Fund in the first quarter worth $40,000. Wolverine Asset Management LLC bought a new stock position in Stone Harbor Emerging Markets Income Fund in the third quarter for $61,000. CoreCap Advisors LLC increased its stake in shares of Stone Harbor Emerging Markets Income Fund by 64.9% in the first quarter. CoreCap Advisors LLC now owns 16,770 shares of the company worth $110,000 after purchasing an additional 6,600 shares in the last quarter. SFI Advisors LLC bought a new stock position in Stone Harbor Emerging Markets Income Fund in the fourth quarter for $160,000. Finally, Advisory Services Network LLC increased its stake in shares of Stone Harbor Emerging Markets Income Fund by 14.7% in the first quarter. Advisory Services Network LLC now owns 29,796 shares of the company worth $195,000 after purchasing an additional 3,812 shares in the last quarter.

NYSE EDF fell $0.03 during trading hours on Friday, hitting $5.47. The company had a trading volume of 52,940 shares, compared to an average volume of 75,191. The Stone Harbor Emerging Markets Income Fund has a fifty-two-week low of $5.05 and a high of $8.74 over fifty-two weeks. The company has a fifty-day simple moving average of $5.83 and a 200-day simple moving average of $6.26.

The company also recently announced a monthly dividend, which will be paid on Friday, June 17. Shareholders of record on Tuesday, June 7 will receive a dividend of $0.06. This represents an annualized dividend of $0.72 and a yield of 13.16%. The ex-dividend date is Monday, June 6.

Stone Harbor Emerging Markets Income Fund Company Profile (Get an assessment)

Stone Harbor Emerging Markets Income Fund is a closed-end, fixed-income mutual fund launched and managed by Stone Harbor Investment Partners LP. The fund invests in the bond markets of emerging countries worldwide. It invests primarily in sovereign debt securities, corporate debt securities, structured notes, convertible securities, securities issued by supranational organizations, floating rate commercial loans and participations in securitized loans.

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