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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.36 and traded as low as $12.08. Western Asset Investment Grade Income Fund shares last traded at $12.1050, with a volume of 21,122 shares changing hands.

Western Asset Investment Grade Income Fund Trading Down 0.4%

The firm’s fifty day moving average is $12.15 and its 200-day moving average is $12.36.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors 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) annualized dividend and a dividend yield of 5.2%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 469.6% during the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 44,160 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Western Asset Investment Grade Income Fund by 13.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider’s stock valued at $2,794,000 after purchasing an additional 25,947 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Western Asset Investment Grade Income Fund by 8.9% during the 3rd quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 7,530 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Western Asset Investment Grade Income Fund by 85.4% during the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 14,644 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Western Asset Investment Grade Income Fund during the 3rd quarter worth approximately $148,000. 18.99% of the stock is owned by institutional investors.

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.