Western Asset Investment Grade Income Fund (NYSE:PAI) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• PAI shares crossed below its 200‑day moving average (200‑day MA $12.48), trading as low as $12.20 and last at $12.30 on a volume of about 6,069 shares.
• The fund declared a monthly dividend of $0.0525 payable May 29 with an ex‑dividend/record date of May 21, implying an annualized yield of roughly 5.1%.
• Several institutions shifted positions in Q4 — notably Sit Investment Associates initiated a ~$14.3M stake — and hedge funds/other institutional investors now own about 18.99% of the stock.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.48 and traded as low as $12.20. Western Asset Investment Grade Income Fund shares last traded at $12.30, with a volume of 6,069 shares trading hands.

Western Asset Investment Grade Income Fund Stock Up 0.2%

The business has a 50 day simple moving average of $12.37 and a 200 day simple moving average of $12.48.

Western Asset Investment Grade Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a $0.0525 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 5.1%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAI. Sit Investment Associates Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth about $14,335,000. 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 worth $8,897,000 after purchasing an additional 63,734 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Western Asset Investment Grade Income Fund by 54.7% in the fourth quarter. Guggenheim Capital LLC now owns 187,533 shares of the financial services provider's stock worth $2,340,000 after purchasing an additional 66,296 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth about $32,000. Finally, Karpus Management Inc. purchased a new position in shares of Western Asset Investment Grade Income Fund in the fourth quarter worth about $113,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.