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

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.64 and traded as low as $12.47. Western Asset Investment Grade Income Fund shares last traded at $12.53, with a volume of 9,855 shares trading hands.

Western Asset Investment Grade Income Fund Stock Up 0.3%

The business’s 50 day simple moving average is $12.47 and its two-hundred day simple moving average is $12.64.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SeaBridge Investment Advisors LLC raised its position in Western Asset Investment Grade Income Fund by 16.4% in the 2nd 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 last quarter. Shaker Financial Services LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 2nd quarter worth $145,000. Aviance Capital Partners LLC raised its holdings in shares of Western Asset Investment Grade Income Fund by 18.4% in the second quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 5,368 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Western Asset Investment Grade Income Fund during the second quarter valued at about $143,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the third quarter valued at about $148,000. 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.