Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.64 and traded as low as $12.47. Western Asset Investment Grade Income Fund shares last traded at $12.53, with a volume of 9,855 shares trading hands.

Western Asset Investment Grade Income Fund Stock Performance

The company’s 50-day simple moving average is $12.47 and its 200 day simple moving average is $12.64.

Western Asset Investment Grade Income Fund Announces Dividend

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

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several large investors have recently made changes to their positions in the business. CWM LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 760.9% during the 3rd quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 3,500 shares during the period. Bank of America Corp DE increased its holdings in Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after buying an additional 2,267 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Western Asset Investment Grade Income Fund in the third quarter worth about $121,000. Focus Partners Advisor Solutions LLC bought a new stake in Western Asset Investment Grade Income Fund in the second quarter worth about $143,000. Finally, Shaker Financial Services LLC purchased a new position in Western Asset Investment Grade Income Fund in the second quarter valued at about $145,000. 18.99% of the stock is owned by hedge funds and other 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.