Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Pass Below 200 Day Moving Average – Here’s Why

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.47 and traded as low as $12.36. Western Asset Investment Grade Income Fund shares last traded at $12.37, with a volume of 19,271 shares changing hands.

Western Asset Investment Grade Income Fund Trading Down 0.1%

The company has a 50-day moving average of $12.29 and a 200-day moving average of $12.47.

Western Asset Investment Grade Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 22nd will be given a $0.0525 dividend. The ex-dividend date is Friday, August 22nd. This represents a $0.63 annualized dividend and a yield of 5.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAI. Jones Financial Companies Lllp boosted its position in Western Asset Investment Grade Income Fund by 58.7% in the fourth quarter. Jones Financial Companies Lllp now owns 155,099 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 57,376 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Western Asset Investment Grade Income Fund in the fourth quarter worth $574,000. Aviance Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 12.6% in the fourth quarter. Aviance Capital Partners LLC now owns 23,357 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,612 shares during the last quarter. StoneX Group Inc. purchased a new position in Western Asset Investment Grade Income Fund in the fourth quarter worth $249,000. Finally, 1607 Capital Partners LLC boosted its position in Western Asset Investment Grade Income Fund by 34.0% in the fourth quarter. 1607 Capital Partners LLC now owns 662,505 shares of the financial services provider’s stock worth $8,288,000 after purchasing an additional 168,193 shares during the last quarter. Hedge funds and other 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.