Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.12 and traded as low as $12.12. Western Asset Investment Grade Income Fund shares last traded at $12.14, with a volume of 3,715 shares traded.

Western Asset Investment Grade Income Fund Price Performance

The firm’s 50-day moving average is $12.12 and its 200-day moving average is $12.33.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.0525 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.2%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of PAI. Sit Investment Associates Inc. bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $14,335,000. Guggenheim Capital LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 54.7% in the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after purchasing an additional 66,296 shares during the period. 1607 Capital Partners LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 9.8% in the fourth quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after purchasing an additional 63,734 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 469.6% in the fourth quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 44,160 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Western Asset Investment Grade Income Fund by 44.0% during the 4th quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider’s stock valued at $1,663,000 after purchasing an additional 40,732 shares during the period. 18.99% of the stock is owned by institutional investors.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company that seeks to provide high current income with a secondary objective of capital preservation. Established in 2005, the fund invests primarily in investment-grade debt securities issued by governments, government agencies, corporate issuers and securitized products. It employs both traditional fixed-income strategies and opportunistic positions to enhance its income profile.

The fund’s portfolio is broadly diversified across sectors and credit profiles, focusing on bonds rated investment-grade by major credit rating agencies.