Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

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 $12.62 and traded as low as $12.61. Western Asset Investment Grade Income Fund shares last traded at $12.68, with a volume of 7,916 shares traded.

Western Asset Investment Grade Income Fund Price Performance

The company’s 50 day simple moving average is $12.53 and its two-hundred day simple moving average is $12.62.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently disclosed 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. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, February 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Shaker Financial Services LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the second quarter worth approximately $145,000. Aviance Capital Partners LLC grew its stake in shares of 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 worth $448,000 after acquiring 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 during the second quarter worth $143,000. International Assets Investment Management LLC acquired a new position in Western Asset Investment Grade Income Fund during the 4th quarter valued at $71,000. Finally, Wolverine Asset Management LLC boosted its holdings in Western Asset Investment Grade Income Fund by 469.6% in the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 44,160 shares during the period. Institutional investors 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.