Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.30 and traded as low as $11.98. Western Asset Investment Grade Income Fund shares last traded at $12.00, with a volume of 12,553 shares changing hands.

Western Asset Investment Grade Income Fund Stock Performance

The company has a fifty day moving average of $12.10 and a two-hundred day moving average of $12.30.

Western Asset Investment Grade Income Fund Announces Dividend

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

Institutional Trading of Western Asset Investment Grade Income Fund

Several large investors have recently modified their holdings of PAI. Fifth Third Bancorp bought a new position in shares of Western Asset Investment Grade Income Fund in the first quarter worth $30,000. Kestra Advisory Services LLC bought a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at $32,000. International Assets Investment Management LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth $71,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Western Asset Investment Grade Income Fund by 4,791.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock worth $85,000 after buying an additional 6,708 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Western Asset Investment Grade Income Fund by 35.3% during the 4th 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. 18.99% of the stock is owned by institutional investors and hedge funds.

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.