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

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.34 and traded as low as $12.10. Western Asset Investment Grade Income Fund shares last traded at $12.1220, with a volume of 4,464 shares trading hands.

Western Asset Investment Grade Income Fund Stock Performance

The stock has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $12.34.

Western Asset Investment Grade Income Fund Dividend Announcement

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 issued a dividend of $0.0525 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 5.2%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds have recently bought and sold shares of PAI. Fifth Third Bancorp purchased a new stake in Western Asset Investment Grade Income Fund during the 1st quarter valued at about $30,000. Kestra Advisory Services LLC bought a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth approximately $32,000. International Assets Investment Management LLC bought a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth approximately $71,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Western Asset Investment Grade Income Fund by 4,791.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock valued at $85,000 after buying an additional 6,708 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of 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 valued at $109,000 after buying an additional 2,267 shares during the last quarter. 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.