Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.42 and traded as low as $12.14. Western Asset Investment Grade Income Fund shares last traded at $12.1620, with a volume of 11,589 shares.

Western Asset Investment Grade Income Fund Trading Down 0.4%

The company has a 50 day moving average of $12.18 and a 200-day moving average of $12.42.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a dividend of $0.0525 per share. The ex-dividend date of this dividend is Thursday, May 21st. 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 have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund during the 1st quarter worth about $30,000. Sit Investment Associates Inc. acquired a new position in Western Asset Investment Grade Income Fund during the 4th quarter worth about $14,335,000. 1607 Capital Partners LLC lifted its stake in Western Asset Investment Grade Income Fund by 9.8% during the 4th quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after acquiring an additional 63,734 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Western Asset Investment Grade Income Fund by 54.7% during the 4th quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after acquiring an additional 66,296 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Western Asset Investment Grade Income Fund in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile

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.