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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.34 and traded as low as $12.10. Western Asset Investment Grade Income Fund shares last traded at $12.1220, with a volume of 4,464 shares.

Western Asset Investment Grade Income Fund Stock Performance

The stock’s 50 day moving average is $12.13 and its two-hundred day moving average is $12.34.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after buying an additional 2,267 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Western Asset Investment Grade Income Fund by 85.4% in the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 14,644 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Western Asset Investment Grade Income Fund in the 3rd quarter valued at about $148,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Investment Grade Income Fund by 13.1% in 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 acquiring an additional 25,947 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of 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 valued at $668,000 after acquiring an additional 44,160 shares during the period. 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.