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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.44 and traded as low as $12.15. Western Asset Investment Grade Income Fund shares last traded at $12.1830, with a volume of 11,190 shares changing hands.

Western Asset Investment Grade Income Fund Stock Performance

The company’s 50-day moving average price is $12.27 and its 200-day moving average price is $12.44.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAI. Aviance Capital Partners LLC raised its position in shares of Western Asset Investment Grade Income Fund by 3.9% during the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 1,431 shares in the last quarter. Bank of America Corp DE lifted its stake in Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,267 shares during the last quarter. Fifth Third Bancorp acquired a new position in Western Asset Investment Grade Income Fund in the first quarter valued at 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. Finally, CWM LLC increased its stake in Western Asset Investment Grade Income Fund by 760.9% in the third quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

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.