Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Breaks Below Two Hundred Day Moving Average – Here’s Why

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $11.96 and traded as low as $11.24. Western Asset Investment Grade Income Fund shares last traded at $11.2750, with a volume of 29,883 shares changing hands.

Western Asset Investment Grade Income Fund Trading Down 0.0%

The stock has a fifty day moving average of $11.69 and a two-hundred day moving average of $11.96.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a $0.0525 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.63 annualized dividend and a yield of 5.5%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Several hedge funds have recently made changes to their positions in PAI. Susquehanna International Group LLP lifted its holdings in shares of Western Asset Investment Grade Income Fund by 16.0% in the 2nd quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,734 shares during the last quarter. Fifth Third Bancorp bought a new position in Western Asset Investment Grade Income Fund during the first quarter valued at $30,000. Bank of America Corp DE purchased a new stake in Western Asset Investment Grade Income Fund in the 2nd quarter worth about $243,000. Waverly Advisors LLC purchased a new position in shares of Western Asset Investment Grade Income Fund during the second quarter valued at approximately $269,000. Finally, 1607 Capital Partners LLC raised its holdings 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 buying an additional 63,734 shares during the period. 18.99% of the stock is owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Investment Grade Income Fund, Inc (NYSE: PAI) is a closed-end investment company that seeks to provide current income while maintaining a portfolio focused primarily on investment-grade fixed-income securities. The fund is managed by Western Asset Management Company, a global fixed-income investment manager.

The fund invests across segments of the bond market, including corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other investment-grade debt instruments.