SeaBridge Investment Advisors LLC Grows Position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI)

SeaBridge Investment Advisors LLC grew its holdings in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 75.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 254,432 shares of the financial services provider's stock after buying an additional 109,201 shares during the period. SeaBridge Investment Advisors LLC owned approximately 2.68% of Western Asset Investment Grade Income Fund worth $3,269,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAI. Raymond James Financial Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $574,000. StoneX Group Inc. bought a new position in shares of Western Asset Investment Grade Income Fund during the 4th quarter worth approximately $249,000. 1607 Capital Partners LLC raised its position in shares of Western Asset Investment Grade Income Fund by 34.0% during 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 period. Stifel Financial Corp raised its position in shares of Western Asset Investment Grade Income Fund by 6.4% during the fourth quarter. Stifel Financial Corp now owns 33,858 shares of the financial services provider's stock worth $424,000 after purchasing an additional 2,038 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after purchasing an additional 2,267 shares during the period. 18.99% of the stock is currently owned by institutional investors.

Western Asset Investment Grade Income Fund Price Performance

Shares of NYSE:PAI traded down $0.04 during trading on Friday, reaching $12.73. 3,871 shares of the stock were exchanged, compared to its average volume of 16,044. Western Asset Investment Grade Income Fund Inc. has a 1-year low of $11.41 and a 1-year high of $13.66. The stock has a fifty day moving average of $12.57 and a two-hundred day moving average of $12.49.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 25th will be given a dividend of $0.0525 per share. This represents a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, July 24th.

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.