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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $12.00 and traded as low as $11.25. Western Asset Investment Grade Income Fund shares last traded at $11.3450, with a volume of 43,021 shares changing hands.

Western Asset Investment Grade Income Fund Stock Up 0.4%

The company has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $11.99.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.0525 per share. The ex-dividend date is Friday, November 20th. This represents a $0.63 annualized dividend and a dividend yield of 5.6%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sit Investment Associates Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at $14,335,000. 1607 Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 9.8% in 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. Fiera Capital Corp boosted its stake in Western Asset Investment Grade Income Fund by 44.0% in the fourth quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider’s stock worth $1,663,000 after purchasing an additional 40,732 shares in the last quarter. Waverly Advisors LLC bought a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter worth about $269,000. Finally, Bank of America Corp DE bought a new stake in shares of Western Asset Investment Grade Income Fund during the second quarter valued at approximately $240,000. 18.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Investment Grade Income Fund, Inc (NYSE: PAI) is a closed-end investment company that seeks to provide current income while maintaining a portfolio focused primarily on investment-grade fixed-income securities. The fund is managed by Western Asset Management Company, a global fixed-income investment manager.

The fund invests across segments of the bond market, including corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other investment-grade debt instruments.