Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 200 Day Moving Average – Here’s Why

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.65 and traded as low as $12.38. Western Asset Investment Grade Income Fund shares last traded at $12.4940, with a volume of 49,557 shares.

Western Asset Investment Grade Income Fund Price Performance

The firm has a 50-day moving average of $12.52 and a two-hundred day moving average of $12.65.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.0525 dividend. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Shaker Financial Services LLC grew its stake in Western Asset Investment Grade Income Fund by 413.8% during the third quarter. Shaker Financial Services LLC now owns 57,081 shares of the financial services provider’s stock worth $735,000 after buying an additional 45,971 shares during the period. SeaBridge Investment Advisors LLC boosted its position in Western Asset Investment Grade Income Fund by 16.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 296,274 shares of the financial services provider’s stock worth $3,846,000 after purchasing an additional 41,842 shares during the period. Baird Financial Group Inc. increased its holdings in Western Asset Investment Grade Income Fund by 85.4% in the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 14,644 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Western Asset Investment Grade Income Fund in the third quarter valued at about $148,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Western Asset Investment Grade Income Fund by 6.4% during the third quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider’s stock worth $2,387,000 after purchasing an additional 11,267 shares in the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.