Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.36 and traded as low as $12.08. Western Asset Investment Grade Income Fund shares last traded at $12.1050, with a volume of 21,122 shares traded.

Western Asset Investment Grade Income Fund Trading Down 0.4%

The stock’s fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $12.36.

Western Asset Investment Grade Income Fund Announces Dividend

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

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the fourth quarter worth about $14,335,000. 1607 Capital Partners LLC raised its position in shares of 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 worth $8,897,000 after acquiring an additional 63,734 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Investment Grade Income Fund by 13.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider’s stock worth $2,794,000 after acquiring an additional 25,947 shares during the last quarter. Guggenheim Capital LLC raised 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 acquiring an additional 66,296 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of 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 worth $1,663,000 after acquiring an additional 40,732 shares during the last quarter. 18.99% of the stock is currently owned by institutional investors.

Western Asset Investment Grade Income Fund Company Profile

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.