Western Asset Variable Rate Strategic Fund Inc. (GFY): Daniel P Cronin , director of Western Asset Variable Rate Strategic Fund Inc. sold 2,000 shares on May 24, 2016. The Insider selling transaction was reported by the company on May 26, 2016 to the Securities and Exchange Commission. The shares were sold at $15.50 per share for a total value of $31,000.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Jul 6, 2015, Kenneth Fuller (CEO) purchased 1,000 shares at $16.50 per share price.
Western Asset Variable Rate Strategic Fund Inc. (the Fund) is a non-diversified closed-end management investment company. The Funds primary investment objective is to maintain a high level of current income. It may invest in high-yield and foreign securities including emerging market securities. The Funds portfolio includes corporate bonds and notes mortgage-backed securities collateralized mortgage obligations Asset-backed securities sovereign bonds the United States agency obligations preferred stocks and senior loans. The Fund may invest in loans arranged through private negotiation between one or more financial institutions. The Funds investment manager is Legg Mason Partners Fund Advisor LLC. Western Asset Management Company and Western Asset Management Company Limited serves as the sub-advisor of the Fund.