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

Key Points

• PAI shares fell below their 200-day moving average of $12.12, trading as low as $11.77 before last changing hands at $11.7950, down 0.5%.
• Institutional ownership stands at 18.99%, with several firms increasing holdings and others establishing new positions, including Bank of America and Baird Financial Group.
• Western Asset Investment Grade Income Fund is a diversified closed-end fund focused primarily on investment-grade debt securities, seeking high current income and capital preservation.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.12 and traded as low as $11.77. Western Asset Investment Grade Income Fund shares last traded at $11.7950, with a volume of 40,491 shares changing hands.

Western Asset Investment Grade Income Fund Stock Down 0.5%

The company has a fifty day moving average price of $11.97 and a 200-day moving average price of $12.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAI. Bank of America Corp DE raised its holdings in Western Asset Investment Grade Income Fund by 35.3% in the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after purchasing an additional 2,267 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Western Asset Investment Grade Income Fund by 85.4% in the second quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider's stock worth $413,000 after buying an additional 14,644 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Western Asset Investment Grade Income Fund during the 3rd quarter worth approximately $148,000. International Assets Investment Management LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund in the fourth quarter valued at approximately $71,000. Finally, Aviance Capital Partners LLC raised its holdings in shares of Western Asset Investment Grade Income Fund by 3.9% during the 4th quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider's stock worth $475,000 after acquiring an additional 1,431 shares during the period. Hedge funds and other institutional investors own 18.99% of the company's stock.

Western Asset Investment Grade Income Fund Company Profile

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.

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