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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.37 and traded as low as $12.07. Western Asset Investment Grade Income Fund shares last traded at $12.0950, with a volume of 25,409 shares traded.

Western Asset Investment Grade Income Fund Trading Up 0.2%

The stock has a fifty day moving average of $12.15 and a two-hundred day moving average of $12.37.

Western Asset Investment Grade Income Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in Western Asset Investment Grade Income Fund during the 1st quarter worth about $30,000. Sit Investment Associates Inc. acquired a new stake in Western Asset Investment Grade Income Fund in the 4th quarter valued at about $14,335,000. 1607 Capital Partners LLC raised its stake 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 during the last quarter. Guggenheim Capital LLC lifted its position in shares of Western Asset Investment Grade Income Fund by 54.7% during the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider’s stock worth $2,340,000 after purchasing an additional 66,296 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $32,000. 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.