Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Above Fifty Day Moving Average - Time to Sell?

Key Points

• Western Asset Investment Grade Income Fund shares have recently crossed above their 50-day moving average at $12.76, indicating potential market interest.
• The fund announced a monthly dividend of $0.0525 per share, expected to yield 4.9%, with the ex-dividend date set for November 20th.
• Significant institutional investment activity has been noted, with Bank of America Corp DE increasing its stake by 35.3% in the last quarter.

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - ) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $12.76 and traded as high as $12.87. Western Asset Investment Grade Income Fund shares last traded at $12.82, with a volume of 6,173 shares changing hands.

Western Asset Investment Grade Income Fund Price Performance

The business's 50-day moving average price is $12.76 and its 200-day moving average price is $12.58.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 20th will be issued a $0.0525 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 20th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Western Asset Investment Grade Income Fund by 35.3% during the 4th quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after purchasing an additional 2,267 shares during the last quarter. 1607 Capital Partners LLC increased its position in shares of Western Asset Investment Grade Income Fund by 0.6% in the 1st quarter. 1607 Capital Partners LLC now owns 666,405 shares of the financial services provider's stock valued at $8,563,000 after acquiring an additional 3,900 shares during the period. Aviance Capital Partners LLC increased its position in shares of Western Asset Investment Grade Income Fund by 18.4% in the 2nd quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider's stock valued at $448,000 after acquiring an additional 5,368 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in Western Asset Investment Grade Income Fund in the 2nd quarter worth $143,000. Finally, Shaker Financial Services LLC acquired a new stake in Western Asset Investment Grade Income Fund during the 2nd quarter worth about $145,000. Institutional investors and hedge funds 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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