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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.36 and traded as low as $12.08. Western Asset Investment Grade Income Fund shares last traded at $12.1050, with a volume of 21,122 shares trading hands.

Western Asset Investment Grade Income Fund Trading Up 0.5%

The company’s 50-day moving average price is $12.15 and its 200-day moving average price is $12.35.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 2,267 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Western Asset Investment Grade Income Fund by 85.4% during the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider’s stock worth $413,000 after buying an additional 14,644 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Western Asset Investment Grade Income Fund by 8.9% in the 3rd quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 7,530 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Western Asset Investment Grade Income Fund in the third quarter valued at approximately $148,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Western Asset Investment Grade Income Fund by 13.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider’s stock valued at $2,794,000 after acquiring an additional 25,947 shares in the last quarter. 18.99% of the stock is owned by institutional investors.

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.