Shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI – Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.17 and traded as low as $11.87. Western Asset Investment Grade Income Fund shares last traded at $11.95, with a volume of 13,096 shares changing hands.
Western Asset Investment Grade Income Fund Stock Performance
The company has a 50 day simple moving average of $12.01 and a 200 day simple moving average of $12.17.
Institutional Investors Weigh In On Western Asset Investment Grade Income Fund
Several large investors have recently modified their holdings of PAI. Susquehanna International Group LLP lifted its holdings in shares of Western Asset Investment Grade Income Fund by 16.0% during the second quarter. Susquehanna International Group LLP now owns 12,605 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 1,734 shares during the period. Bank of America Corp DE acquired a new position in Western Asset Investment Grade Income Fund in the 2nd quarter valued at $240,000. Fifth Third Bancorp purchased a new position in Western Asset Investment Grade Income Fund during the 1st quarter worth $30,000. Sit Investment Associates Inc. purchased a new position in Western Asset Investment Grade Income Fund during the 4th quarter worth $14,335,000. Finally, 1607 Capital Partners LLC lifted its stake in shares of Western Asset Investment Grade Income Fund by 9.8% in the 4th quarter. 1607 Capital Partners LLC now owns 712,889 shares of the financial services provider’s stock worth $8,897,000 after acquiring an additional 63,734 shares during the period. Hedge funds and other 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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