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

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Western Asset Investment Grade Income Fund Stock Up 0.1 %

The company's 50 day moving average is $12.41 and its 200-day moving average is $12.50.

Western Asset Investment Grade Income Fund Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.0525 per share. This is an increase from Western Asset Investment Grade Income Fund's previous dividend of $0.05. This represents a dividend yield of 4.91%. The ex-dividend date was Monday, March 24th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of 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 valued at $109,000 after purchasing an additional 2,267 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth about $249,000. Aviance Capital Partners LLC grew its stake in Western Asset Investment Grade Income Fund by 12.6% in the 4th quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider's stock valued at $292,000 after buying an additional 2,612 shares during the last quarter. Stifel Financial Corp raised its holdings in Western Asset Investment Grade Income Fund by 6.4% in the 4th quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock valued at $424,000 after acquiring an additional 2,038 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Western Asset Investment Grade Income Fund during the fourth quarter worth approximately $574,000. Institutional investors own 18.99% of the company's stock.

About Western Asset Investment Grade Income Fund

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.

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