Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.61 and traded as low as $12.61. Western Asset Investment Grade Income Fund shares last traded at $12.77, with a volume of 10,793 shares trading hands.

Western Asset Investment Grade Income Fund Stock Up 1.1 %

The company has a fifty day moving average of $12.57 and a two-hundred day moving average of $12.62.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 24th will be paid a $0.0525 dividend. The ex-dividend date is Monday, March 24th. This represents a $0.63 dividend on an annualized basis and a yield of 4.90%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 1607 Capital Partners LLC boosted its stake in Western Asset Investment Grade Income Fund by 34.0% in the fourth quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock valued at $8,288,000 after acquiring an additional 168,193 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Western Asset Investment Grade Income Fund by 24.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 214,320 shares of the financial services provider’s stock worth $2,681,000 after buying an additional 42,107 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Western Asset Investment Grade Income Fund by 58.7% during the fourth quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider’s stock worth $1,940,000 after buying an additional 57,376 shares during the period. SeaBridge Investment Advisors LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 1.9% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 145,231 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 2,663 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $574,000. 18.99% of the stock is currently owned by institutional investors and hedge funds.

About Western Asset Investment Grade Income Fund

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.