Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 200-Day Moving Average – Here’s Why

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.37 and traded as low as $12.07. Western Asset Investment Grade Income Fund shares last traded at $12.0950, with a volume of 25,409 shares traded.

Western Asset Investment Grade Income Fund Price Performance

The company has a 50 day moving average of $12.15 and a 200 day moving average of $12.37.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several large investors have recently made changes to their positions in PAI. Fifth Third Bancorp acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 1st quarter worth about $30,000. Kestra Advisory Services LLC acquired a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at about $32,000. 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. grew its stake in Western Asset Investment Grade Income Fund by 4,791.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after buying an additional 6,708 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of 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 in the last quarter. Institutional investors 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.