Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.30 and traded as low as $11.98. Western Asset Investment Grade Income Fund shares last traded at $12.00, with a volume of 12,553 shares.

Western Asset Investment Grade Income Fund Price Performance

The company’s 50-day simple moving average is $12.10 and its 200-day simple moving average is $12.30.

Western Asset Investment Grade Income Fund Announces Dividend

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

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC lifted its position in shares of Western Asset Investment Grade Income Fund by 3.9% during the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock valued at $475,000 after buying an additional 1,431 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Western Asset Investment Grade Income Fund by 35.3% during the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 2,267 shares during the last quarter. Fifth Third Bancorp bought a new stake in Western Asset Investment Grade Income Fund during the first quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in Western Asset Investment Grade Income Fund in the fourth quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth about $71,000. Institutional investors and hedge funds own 18.99% of the company’s stock.

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.