Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• PAI shares fell below their 200-day moving average of $12.25, trading as low as $11.88 before closing at $11.95 on volume of 12,235 shares.
• The fund declared a monthly dividend of $0.0525 per share, payable August 31 to shareholders of record August 24, representing an annualized yield of approximately 5.3%.
• Institutional investors own about 18.99% of PAI, with several firms recently initiating or increasing positions. The closed-end fund primarily invests in investment-grade debt securities and seeks high current income with capital preservation.

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.25 and traded as low as $11.88. Western Asset Investment Grade Income Fund shares last traded at $11.95, with a volume of 12,235 shares traded.

Western Asset Investment Grade Income Fund Stock Up 0.5%

The business has a 50 day moving average of $12.07 and a 200 day moving average of $12.25.

Western Asset Investment Grade Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.0525 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.3%.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of large investors have recently modified their holdings of PAI. Fifth Third Bancorp purchased a new position in shares of Western Asset Investment Grade Income Fund during the first quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new stake in Western Asset Investment Grade Income Fund in the fourth quarter worth about $32,000. International Assets Investment Management LLC bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter valued at approximately $71,000. Northwestern Mutual Wealth Management Co. boosted its position in Western Asset Investment Grade Income Fund by 4,791.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,848 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 6,708 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of 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 acquiring an additional 2,267 shares during the period. Institutional investors own 18.99% of the company's stock.

About Western Asset Investment Grade Income Fund

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.

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