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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. The fund primarily invests in investment grade bonds, including corporate bonds, U.S. government and agency securities, and mortgage related securities. It seeks to maintain an average duration of around two to three years with an average credit…
NEW YORK--(BUSINESS WIRE)--Category: Financials.
NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.
Western Asset Premier Bond Fund (NYSE: WEA - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $11.05 and traded as low as $10.40. Western Asset Premier Bond Fund shares last traded at $10.5910, with a volume
Western Asset Premier Bond Fund now trades at a -6.45% discount, offering a more attractive entry point. WEA's 7.83% yield is supported by a diversified, investment-grade-tilted portfolio, with 65% in BBB and above. Distribution coverage is a bit lacking, but nothing out of the ordinary relative to other fixed-income funds; plus, NII moving higher is expected as Fed rate cuts reduce leverage costs.
NEW YORK--(BUSINESS WIRE)--Category: Financials.