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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.38 and traded as low as $12.06. Western Asset Investment Grade Income Fund shares last traded at $12.1050, with a volume of 18,337 shares.

Western Asset Investment Grade Income Fund Stock Down 0.2%

The company’s 50 day simple moving average is $12.15 and its 200-day simple moving average is $12.38.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.0525 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.2%.

Institutional Trading of Western Asset Investment Grade Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of PAI. Sit Investment Associates Inc. purchased a new stake in Western Asset Investment Grade Income Fund in the 4th quarter worth approximately $14,335,000. Guggenheim Capital LLC lifted its stake in Western Asset Investment Grade Income Fund by 54.7% in the 4th quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after purchasing an additional 66,296 shares in the last quarter. 1607 Capital Partners LLC lifted its stake in 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 purchasing an additional 63,734 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Western Asset Investment Grade Income Fund by 469.6% in the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 44,160 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in Western Asset Investment Grade Income Fund by 44.0% in the 4th 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. 18.99% of the stock is currently 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.