Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Passes 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 Wednesday . The stock has a 200-day moving average of $12.23 and traded as low as $11.91. Western Asset Investment Grade Income Fund shares last traded at $11.95, with a volume of 7,064 shares.

Western Asset Investment Grade Income Fund Stock Performance

The firm has a 50 day moving average price of $12.05 and a 200-day moving average price of $12.22.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.0525 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp bought a new stake in shares of Western Asset Investment Grade Income Fund during the first quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $32,000. International Assets Investment Management LLC bought a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $71,000. Northwestern Mutual Wealth Management Co. boosted its stake in Western Asset Investment Grade Income Fund by 4,791.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 6,708 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in 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 acquiring an additional 2,267 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.