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

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $11.94 and traded as low as $11.40. Western Asset Investment Grade Income Fund shares last traded at $11.4650, with a volume of 13,894 shares.

Western Asset Investment Grade Income Fund Trading Down 0.2%

The stock has a 50-day moving average price of $11.63 and a 200 day moving average price of $11.93.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.0525 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several institutional investors have recently modified their holdings of PAI. Waverly Advisors LLC acquired a new stake in Western Asset Investment Grade Income Fund in the second quarter valued at $269,000. Bank of America Corp DE purchased a new position in shares of Western Asset Investment Grade Income Fund during the 2nd quarter worth $243,000. Susquehanna International Group LLP boosted its holdings in shares of Western Asset Investment Grade Income Fund by 16.0% during the second quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 1,734 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Western Asset Investment Grade Income Fund during the first quarter worth $30,000. Hedge funds and other 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. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in investment-grade fixed-income securities.

Its portfolio may include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other debt instruments. The fund may also invest in securities issued by entities outside the United States, providing exposure to global fixed-income markets while maintaining an emphasis on higher-quality credit.

PAI is managed by Western Asset Management Company, a global fixed-income investment manager and an affiliate of Franklin Resources.