Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.65 and traded as low as $12.46. Western Asset Investment Grade Income Fund shares last traded at $12.49, with a volume of 19,078 shares traded.

Western Asset Investment Grade Income Fund Stock Up 0.6%

The company has a fifty day moving average of $12.48 and a 200 day moving average of $12.65.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1607 Capital Partners LLC grew its stake in Western Asset Investment Grade Income Fund by 0.6% in the 1st quarter. 1607 Capital Partners LLC now owns 666,405 shares of the financial services provider’s stock valued at $8,563,000 after buying an additional 3,900 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its stake in Western Asset Investment Grade Income Fund by 16.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 296,274 shares of the financial services provider’s stock valued at $3,846,000 after buying an additional 41,842 shares during the period. Jones Financial Companies Lllp grew its position in Western Asset Investment Grade Income Fund by 6.4% during the third quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider’s stock worth $2,387,000 after buying an additional 11,267 shares in the last quarter. Fiera Capital Corp grew its position in Western Asset Investment Grade Income Fund by 8.9% during the third quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 7,530 shares in the last quarter. Finally, Shaker Financial Services LLC increased its stake in Western Asset Investment Grade Income Fund by 413.8% in the 3rd quarter. Shaker Financial Services LLC now owns 57,081 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 45,971 shares during the last quarter. 18.99% of the stock is 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.