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

Key Points

• PAI shares fell below their 200-day moving average of $12.07, trading as low as $11.59 before last changing hands at $11.66 on volume of 16,041 shares.
• The fund declared a monthly dividend of $0.0525 per share, payable November 30 to shareholders of record November 20, representing an annualized yield of approximately 5.4%.
• Institutional investors and hedge funds own approximately 18.99% of the fund, with several firms initiating or increasing positions during recent quarters.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.07 and traded as low as $11.59. Western Asset Investment Grade Income Fund shares last traded at $11.66, with a volume of 16,041 shares trading hands.

Western Asset Investment Grade Income Fund Price Performance

The company has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $12.07.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.0525 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Institutional Trading of Western Asset Investment Grade Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Waverly Advisors LLC acquired a new position in Western Asset Investment Grade Income Fund during the second quarter worth about $269,000. Susquehanna International Group LLP boosted its stake 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 worth $153,000 after acquiring an additional 1,734 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 2nd quarter worth approximately $240,000. Fifth Third Bancorp purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 1st quarter worth approximately $30,000. Finally, Sit Investment Associates Inc. acquired a new stake in shares of Western Asset Investment Grade Income Fund in the 4th quarter worth approximately $14,335,000. 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 NYSE: PAI is a closed-end investment company that seeks to provide investors with a high level of current income while preserving capital. The fund invests primarily in investment-grade fixed-income securities, including corporate bonds, government and agency securities, mortgage-backed securities, and other debt instruments.

The fund is managed by Western Asset Management Company, a global fixed-income investment manager and a subsidiary of Franklin Resources, Inc Western Asset uses fundamental credit research, interest-rate analysis, and portfolio management to select securities and manage exposure across bond-market sectors and maturities.

PAI may invest in debt securities issued by entities in the United States and other countries, allowing the portfolio to gain exposure to a range of fixed-income markets.

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