Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.12 and traded as low as $12.12. Western Asset Investment Grade Income Fund shares last traded at $12.14, with a volume of 3,715 shares trading hands.

Western Asset Investment Grade Income Fund Stock Up 0.2%

The company’s 50 day moving average is $12.12 and its 200 day moving average is $12.32.

Western Asset Investment Grade Income Fund Announces Dividend

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

Institutional Trading of Western Asset Investment Grade Income Fund

Large investors have recently modified their holdings of the company. Sit Investment Associates Inc. bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter valued at $14,335,000. 1607 Capital Partners LLC increased its holdings in Western Asset Investment Grade Income Fund by 9.8% during the fourth quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock valued at $8,897,000 after buying an additional 63,734 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in 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. Guggenheim Capital LLC raised its position in shares of Western Asset Investment Grade Income Fund by 54.7% in the 4th quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after acquiring an additional 66,296 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in 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 purchasing an additional 40,732 shares in 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.