Western Asset Inv Grade Income Fund (NYSE:PAI) Stock Price Passes Above Fifty Day Moving Average of $15.23

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Western Asset Inv Grade Income Fund Inc (NYSE:PAI) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.23 and traded as high as $15.44. Western Asset Inv Grade Income Fund shares last traded at $15.44, with a volume of 6,320 shares.

The firm’s 50 day simple moving average is $15.23 and its 200-day simple moving average is $14.79.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.0575 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.69 annualized dividend and a yield of 4.50%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in Western Asset Inv Grade Income Fund by 5.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,091 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 894 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Western Asset Inv Grade Income Fund by 8.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,892 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 917 shares during the last quarter. Lido Advisors LLC boosted its stake in Western Asset Inv Grade Income Fund by 8.1% during the 1st quarter. Lido Advisors LLC now owns 18,182 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 1,368 shares during the last quarter. Whitener Capital Management Inc. boosted its stake in Western Asset Inv Grade Income Fund by 56.5% during the 1st quarter. Whitener Capital Management Inc. now owns 7,475 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Western Asset Inv Grade Income Fund by 32.9% during the 2nd quarter. Morgan Stanley now owns 17,392 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 4,302 shares during the last quarter. 4.91% of the stock is currently owned by institutional investors.

Western Asset Inv Grade Income Fund Company Profile (NYSE:PAI)

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.

Read More: What are Institutional Investors?

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