Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.25 and traded as low as $11.88. Western Asset Investment Grade Income Fund shares last traded at $11.95, with a volume of 12,235 shares traded.

Western Asset Investment Grade Income Fund Stock Performance

The firm has a fifty day simple moving average of $12.07 and a two-hundred day simple moving average of $12.25.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.0525 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp bought a new stake in Western Asset Investment Grade Income Fund during the first quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in Western Asset Investment Grade Income Fund during the 4th quarter valued at $32,000. International Assets Investment Management LLC bought a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth about $71,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Western Asset Investment Grade Income Fund by 4,791.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider’s stock valued at $85,000 after buying an additional 6,708 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider’s stock valued at $109,000 after buying an additional 2,267 shares during the last quarter. Hedge funds and other 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.