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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.56 and traded as low as $12.00. Western Asset Investment Grade Income Fund shares last traded at $12.09, with a volume of 16,678 shares changing hands.

Western Asset Investment Grade Income Fund Trading Down 0.7%

The company has a fifty day moving average price of $12.49 and a 200 day moving average price of $12.55.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a $0.0525 dividend. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Trading of Western Asset Investment Grade Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in Western Asset Investment Grade Income Fund in the fourth quarter worth $32,000. CWM LLC raised its position in Western Asset Investment Grade Income Fund by 760.9% during the third quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 3,500 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth about $71,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Western Asset Investment Grade Income Fund by 4,791.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 6,708 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Western Asset Investment Grade Income Fund by 35.3% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

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.