Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.23 and traded as low as $11.91. Western Asset Investment Grade Income Fund shares last traded at $11.95, with a volume of 7,064 shares traded.
Western Asset Investment Grade Income Fund Stock Performance
The business's 50 day moving average price is $12.05 and its 200-day moving average price is $12.23.
Western Asset Investment Grade Income Fund Announces Dividend
The company 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) dividend on an annualized basis and a yield of 5.3%.
Hedge Funds Weigh In On Western Asset Investment Grade Income Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake 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 valued at $109,000 after purchasing an additional 2,267 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Western Asset Investment Grade Income Fund by 85.4% during the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 14,644 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Western Asset Investment Grade Income Fund during the 3rd quarter valued at approximately $148,000. Wolverine Asset Management LLC lifted its stake in Western Asset Investment Grade Income Fund by 469.6% during the fourth quarter. Wolverine Asset Management LLC now owns 53,564 shares of the financial services provider's stock worth $668,000 after purchasing an additional 44,160 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Western Asset Investment Grade Income Fund during the fourth quarter worth $71,000. 18.99% of the stock is owned by hedge funds and other institutional investors.
About Western Asset Investment Grade Income Fund
(
Get Free Report)
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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