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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.65 and traded as low as $12.46. Western Asset Investment Grade Income Fund shares last traded at $12.49, with a volume of 19,078 shares trading hands.

Western Asset Investment Grade Income Fund Stock Up 0.2%

The business has a 50 day moving average price of $12.48 and a two-hundred day moving average price of $12.65.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be given a $0.0525 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a yield of 5.0%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the 3rd quarter worth about $148,000. Fiera Capital Corp boosted its stake in Western Asset Investment Grade Income Fund by 8.9% in the third quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 7,530 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Western Asset Investment Grade Income Fund by 6.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider’s stock valued at $2,387,000 after acquiring an additional 11,267 shares during the period. Aviance Capital Partners LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 6.0% during the 3rd quarter. Aviance Capital Partners LLC now owns 36,633 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 2,082 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 3rd quarter worth approximately $121,000. 18.99% of the stock is currently owned by institutional investors.

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.