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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.30 and traded as low as $11.98. Western Asset Investment Grade Income Fund shares last traded at $12.00, with a volume of 12,553 shares.

Western Asset Investment Grade Income Fund Trading Down 0.5%

The company’s fifty day simple moving average is $12.10 and its 200-day simple moving average is $12.29.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a $0.0525 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aviance Capital Partners LLC boosted its stake in Western Asset Investment Grade Income Fund by 3.9% in the fourth quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 1,431 shares in the last quarter. Bank of America Corp DE grew its holdings in Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Western Asset Investment Grade Income Fund during the first quarter worth $30,000. Kestra Advisory Services LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter valued at $71,000. 18.99% of the stock is currently 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.