Western Asset Investment Grade Income Fund (NYSE:PAI) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.12 and traded as low as $12.12. Western Asset Investment Grade Income Fund shares last traded at $12.14, with a volume of 3,715 shares traded.

Western Asset Investment Grade Income Fund Trading Down 0.2%

The stock has a fifty day moving average of $12.12 and a 200 day moving average of $12.33.

Get Western Asset Investment Grade Income Fund alerts:

Western Asset Investment Grade Income Fund Dividend Announcement

The firm 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 dividend of $0.0525 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.2%.

Hedge Funds Weigh In On Western Asset Investment Grade Income Fund

A number of large investors have recently made changes to their positions in PAI. 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. Fifth Third Bancorp purchased a new stake in Western Asset Investment Grade Income Fund in the 1st quarter worth approximately $30,000. Kestra Advisory Services LLC bought a new position in Western Asset Investment Grade Income Fund in the 4th quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new position in Western Asset Investment Grade Income Fund in the 4th quarter valued at $71,000. 18.99% of the stock is owned by institutional investors.

Western Asset Investment Grade Income Fund Company Profile

(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.

Featured Articles

• Five stocks we like better than Western Asset Investment Grade Income Fund
• Apple and Broadcom Forge a Decade-Long Silicon Fortress
• SK Hynix’s Nasdaq Listing Could Reset the AI Memory Trade
• The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
• Palantir’s CEO Just Called Out OpenAI and Anthropic

Receive News & Ratings for Western Asset Investment Grade Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Asset Investment Grade Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.