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

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 Tuesday . The stock has a 200-day moving average of $12.50 and traded as low as $12.40. Western Asset Investment Grade Income Fund shares last traded at $12.41, with a volume of 5,548 shares traded.

Western Asset Investment Grade Income Fund Stock Up 1.1%

The firm has a 50 day moving average price of $12.39 and a 200-day moving average price of $12.50.

Western Asset Investment Grade Income Fund Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a $0.0525 dividend. The ex-dividend date was Monday, March 24th. This represents a yield of 4.91%. This is a positive change from Western Asset Investment Grade Income Fund's previous dividend of $0.05.

Institutional Trading of Western Asset Investment Grade Income Fund

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in Western Asset Investment Grade Income Fund by 35.3% in the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after acquiring an additional 2,267 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth $249,000. Aviance Capital Partners LLC grew its stake in shares of Western Asset Investment Grade Income Fund by 12.6% during the fourth quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider's stock worth $292,000 after purchasing an additional 2,612 shares in the last quarter. Stifel Financial Corp increased its holdings in Western Asset Investment Grade Income Fund by 6.4% in the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock valued at $424,000 after buying an additional 2,038 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Western Asset Investment Grade Income Fund in the fourth quarter valued at $574,000. 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 Income Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company. It is co-managed by Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade debt, including government securities, bank debt, commercial paper, and cash or cash equivalents.