Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $12.76 and traded as high as $12.87. Western Asset Investment Grade Income Fund shares last traded at $12.82, with a volume of 6,173 shares.

Western Asset Investment Grade Income Fund Trading Down 0.2%

The firm has a 50-day moving average of $12.76 and a two-hundred day moving average of $12.58.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.0525 per share. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of 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 in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the 2nd quarter valued at about $143,000. Shaker Financial Services LLC acquired a new position in Western Asset Investment Grade Income Fund in the 2nd quarter worth about $145,000. Martin Capital Partners LLC raised its holdings in Western Asset Investment Grade Income Fund by 97.3% in the 2nd quarter. Martin Capital Partners LLC now owns 22,750 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 11,219 shares during the period. Finally, Aviance Capital Partners LLC grew its holdings in Western Asset Investment Grade Income Fund by 24.9% in the first quarter. Aviance Capital Partners LLC now owns 29,183 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 5,826 shares during the period. Hedge funds and other institutional investors own 18.99% of the company’s stock.

About Western Asset Investment Grade Income Fund

Western Asset Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.