Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Breaks Below 200 Day Moving Average - Should You Sell?

Key Points

• Western Asset Investment Grade Income Fund shares fell below their 200-day moving average of $11.94, reaching a low of $11.40 before last trading at $11.4650.
• The fund declared a monthly dividend of $0.0525 per share, equivalent to $0.63 annually and a 5.5% yield; the ex-dividend date is November 20.
• Institutional investors own 18.99% of the fund, with several firms—including Waverly Advisors and Bank of America—recently acquiring or increasing positions.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $11.94 and traded as low as $11.40. Western Asset Investment Grade Income Fund shares last traded at $11.4650, with a volume of 13,894 shares traded.

Western Asset Investment Grade Income Fund Stock Up 0.7%

The firm's fifty day moving average is $11.64 and its 200-day moving average is $11.94.

Western Asset Investment Grade Income Fund Dividend Announcement

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

Institutional Trading of Western Asset Investment Grade Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Waverly Advisors LLC acquired a new position in shares of Western Asset Investment Grade Income Fund in the 2nd quarter worth approximately $269,000. Bank of America Corp DE acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 2nd quarter valued at approximately $240,000. Susquehanna International Group LLP raised its position in shares of Western Asset Investment Grade Income Fund by 16.0% during 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 in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 18.99% of the company's stock.

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.

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