Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $12.46 and traded as high as $12.53. Western Asset Investment Grade Income Fund shares last traded at $12.48, with a volume of 6,944 shares traded.

Western Asset Investment Grade Income Fund Stock Performance

The stock’s 50 day moving average price is $12.46 and its two-hundred day moving average price is $12.66.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. SeaBridge Investment Advisors LLC lifted its position in shares of Western Asset Investment Grade Income Fund by 16.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 296,274 shares of the financial services provider’s stock worth $3,846,000 after purchasing an additional 41,842 shares during the last quarter. Shaker Financial Services LLC acquired a new stake in Western Asset Investment Grade Income Fund during the second quarter valued at approximately $145,000. Aviance Capital Partners LLC lifted its stake in Western Asset Investment Grade Income Fund by 18.4% during the second quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 5,368 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in Western Asset Investment Grade Income Fund in the second quarter worth about $143,000. Finally, Martin Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 97.3% during the 2nd quarter. Martin Capital Partners LLC now owns 22,750 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 11,219 shares during the period. Institutional investors and hedge funds own 18.99% of the company’s stock.

Western Asset Investment Grade Income Fund Company Profile

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.