Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 200 Day Moving Average – Time to Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.20 and traded as low as $11.91. Western Asset Investment Grade Income Fund shares last traded at $11.91, with a volume of 9,952 shares trading hands.

Western Asset Investment Grade Income Fund Stock Performance

The company’s 50-day moving average price is $12.03 and its two-hundred day moving average price is $12.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 469.6% during the 4th quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 44,160 shares in the last quarter. 1607 Capital Partners LLC increased its holdings in 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 purchasing an additional 63,734 shares in the last quarter. Sit Investment Associates Inc. acquired a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $14,335,000. International Assets Investment Management LLC acquired a new position in Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $71,000. Finally, Aviance Capital Partners LLC boosted its holdings in shares of Western Asset Investment Grade Income Fund by 3.9% during the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider’s stock worth $475,000 after buying an additional 1,431 shares in the last quarter. 18.99% of the stock is owned by institutional investors.

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.