Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• PAI shares fell below their 200-day moving average of $12.03, trading as low as $11.40 and last changing hands at $11.43.
• The fund declared a monthly dividend of $0.0525 per share, equivalent to $0.63 annually and a 5.5% yield; the payment is scheduled for November 30 to shareholders of record November 20.
• Institutional investors own 18.99% of PAI, with several firms increasing or initiating positions, including 1607 Capital Partners and Fiera Capital.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $12.03 and traded as low as $11.40. Western Asset Investment Grade Income Fund shares last traded at $11.43, with a volume of 8,174 shares traded.

Western Asset Investment Grade Income Fund Price Performance

The company has a 50 day moving average of $11.84 and a 200 day moving average of $12.03.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 5.5%.

Institutional Trading of Western Asset Investment Grade Income Fund

Several large investors have recently added to or reduced their stakes in PAI. 1607 Capital Partners LLC raised its stake 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 valued at $8,897,000 after acquiring an additional 63,734 shares during the last quarter. Sit Investment Associates Inc. bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $14,335,000. Fiera Capital Corp increased its holdings in Western Asset Investment Grade Income Fund by 44.0% during the 4th quarter. Fiera Capital Corp now owns 133,223 shares of the financial services provider's stock valued at $1,663,000 after purchasing an additional 40,732 shares in the last quarter. Bank of America Corp DE acquired a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter valued at $240,000. Finally, Waverly Advisors LLC acquired a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter valued at $269,000. 18.99% of the stock is owned by institutional investors.

About Western Asset Investment Grade Income Fund

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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