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

Key Points

• Western Asset Investment Grade Income Fund (NYSE:PAI) shares crossed below its 200‑day moving average
• The fund declared a monthly dividend of $0.0525 per share (ex‑dividend May 21, payable May 29), which annualizes to a yield of about 5.2%.
• About 18.99% of the fund is owned by hedge funds and institutional investors, and PAI is a closed‑end fund that primarily invests in investment‑grade debt to seek high current income with capital preservation.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.58 and traded as low as $12.17. Western Asset Investment Grade Income Fund shares last traded at $12.18, with a volume of 7,621 shares traded.

Western Asset Investment Grade Income Fund Stock Performance

The business has a 50 day moving average of $12.56 and a 200-day moving average of $12.58.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.0525 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Aviance Capital Partners LLC boosted its position in shares of Western Asset Investment Grade Income Fund by 3.9% in the fourth quarter. Aviance Capital Partners LLC now owns 38,064 shares of the financial services provider's stock valued at $475,000 after acquiring an additional 1,431 shares during the period. Bank of America Corp DE increased its holdings 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 acquiring an additional 2,267 shares during the period. Kestra Advisory Services LLC bought a new stake in Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $32,000. CWM LLC lifted its stake in Western Asset Investment Grade Income Fund by 760.9% in the 3rd quarter. CWM LLC now owns 3,960 shares of the financial services provider's stock worth $51,000 after purchasing an additional 3,500 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Western Asset Investment Grade Income Fund in the 4th quarter worth approximately $71,000. 18.99% of the stock is owned by hedge funds and other institutional investors.

Western Asset Investment Grade Income Fund Company Profile

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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