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

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.55 and traded as low as $12.53. Western Asset Investment Grade Income Fund shares last traded at $12.57, with a volume of 24,605 shares traded.

Western Asset Investment Grade Income Fund Trading Down 0.1%

The company’s fifty day moving average price is $12.79 and its 200 day moving average price is $12.55.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp increased its stake in Western Asset Investment Grade Income Fund by 6.4% in the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 2,038 shares during the last quarter. Bank of America Corp DE increased its stake in Western Asset Investment Grade Income Fund by 35.3% in the fourth 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. 1607 Capital Partners LLC increased its stake in Western Asset Investment Grade Income Fund by 0.6% in the first quarter. 1607 Capital Partners LLC now owns 666,405 shares of the financial services provider’s stock valued at $8,563,000 after acquiring an additional 3,900 shares during the last quarter. Aviance Capital Partners LLC increased its stake in Western Asset Investment Grade Income Fund by 18.4% in the second quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 5,368 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in Western Asset Investment Grade Income Fund in the second quarter valued at approximately $143,000. 18.99% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Company Profile

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.