Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.42 and traded as low as $12.14. Western Asset Investment Grade Income Fund shares last traded at $12.1620, with a volume of 11,589 shares.

Western Asset Investment Grade Income Fund Trading Up 0.0%

The firm has a fifty day simple moving average of $12.19 and a 200-day simple moving average of $12.42.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.2%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

Hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 469.6% during the fourth quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 44,160 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings 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 purchasing an additional 25,947 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of 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 during the last quarter. CWM LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 760.9% during the third quarter. CWM LLC now owns 3,960 shares of the financial services provider’s stock worth $51,000 after buying an additional 3,500 shares during the last quarter. Finally, Aviance Capital Partners LLC grew its holdings in shares of Western Asset Investment Grade Income Fund by 6.0% during the third quarter. Aviance Capital Partners LLC now owns 36,633 shares of the financial services provider’s stock worth $470,000 after buying an additional 2,082 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.