Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Crosses Below Two Hundred Day Moving Average of $11.53

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.53 and traded as low as $10.65. Western Asset Investment Grade Income Fund shares last traded at $10.70, with a volume of 30,704 shares traded.

Western Asset Investment Grade Income Fund Price Performance

The business has a 50-day simple moving average of $11.20 and a 200 day simple moving average of $11.53.

Western Asset Investment Grade Income Fund Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 24th will be paid a dividend of $0.0475 per share. This is a positive change from Western Asset Investment Grade Income Fund’s previous dividend of $0.05. The ex-dividend date of this dividend is Monday, October 23rd. This represents a yield of 5.17%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of large investors have recently added to or reduced their stakes in PAI. LPL Financial LLC boosted its position in Western Asset Investment Grade Income Fund by 3.2% during the 2nd quarter. LPL Financial LLC now owns 27,675 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 849 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Western Asset Investment Grade Income Fund by 73.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,724 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,150 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter valued at approximately $25,000. Stifel Financial Corp boosted its position in Western Asset Investment Grade Income Fund by 13.5% during the 2nd quarter. Stifel Financial Corp now owns 20,379 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 2,418 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its position in Western Asset Investment Grade Income Fund by 2.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 117,377 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 3,140 shares in the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.