Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.07 and traded as low as $11.59. Western Asset Investment Grade Income Fund shares last traded at $11.66, with a volume of 16,041 shares trading hands.

Western Asset Investment Grade Income Fund Price Performance

The stock’s fifty day simple moving average is $11.90 and its two-hundred day simple moving average is $12.07.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be issued a $0.0525 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, November 20th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund in the 4th quarter valued at $14,335,000. 1607 Capital Partners LLC increased its position in shares of Western Asset Investment Grade Income Fund by 9.8% in the fourth quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after acquiring an additional 63,734 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of Western Asset Investment Grade Income Fund by 44.0% during the fourth quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider’s stock valued at $1,663,000 after acquiring an additional 40,732 shares during the period. Waverly Advisors LLC purchased a new position in Western Asset Investment Grade Income Fund during the 2nd quarter worth approximately $269,000. Finally, Bank of America Corp DE acquired a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter valued at $240,000. 18.99% of the stock is owned by institutional investors and hedge funds.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund (NYSE:PAI) is a closed-end investment company that seeks to provide investors with a high level of current income while preserving capital. The fund invests primarily in investment-grade fixed-income securities, including corporate bonds, government and agency securities, mortgage-backed securities, and other debt instruments.

The fund is managed by Western Asset Management Company, a global fixed-income investment manager and a subsidiary of Franklin Resources, Inc Western Asset uses fundamental credit research, interest-rate analysis, and portfolio management to select securities and manage exposure across bond-market sectors and maturities.

PAI may invest in debt securities issued by entities in the United States and other countries, allowing the portfolio to gain exposure to a range of fixed-income markets.