SeaBridge Investment Advisors LLC Has $3.85 Million Stock Position in Western Asset Investment Grade Income Fund Inc. $PAI

Key Points

• SeaBridge Investment Advisors LLC increased its position in Western Asset Investment Grade Income Fund by 16.4%, owning approximately 3.12% of the fund, valued at $3.85 million.
• The Western Asset Investment Grade Income Fund announced a monthly dividend of $0.0525, set to be paid on December 1st, with a yield of 5.0%.
• The stock opened at $12.72 with a 12-month low of $11.41 and a high of $13.66, reflecting recent stability in trading performance.

SeaBridge Investment Advisors LLC lifted its stake in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 16.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,274 shares of the financial services provider's stock after acquiring an additional 41,842 shares during the period. SeaBridge Investment Advisors LLC owned approximately 3.12% of Western Asset Investment Grade Income Fund worth $3,846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAI. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Western Asset Investment Grade Income Fund by 19.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 255,783 shares of the financial services provider's stock valued at $3,287,000 after acquiring an additional 41,463 shares during the period. Martin Capital Partners LLC increased its position in Western Asset Investment Grade Income Fund by 97.3% in the second quarter. Martin Capital Partners LLC now owns 22,750 shares of the financial services provider's stock worth $295,000 after purchasing an additional 11,219 shares during the period. Aviance Capital Partners LLC increased its position in Western Asset Investment Grade Income Fund by 24.9% in the first quarter. Aviance Capital Partners LLC now owns 29,183 shares of the financial services provider's stock worth $375,000 after purchasing an additional 5,826 shares during the period. 1607 Capital Partners LLC increased its position in Western Asset Investment Grade Income Fund by 0.6% in the first quarter. 1607 Capital Partners LLC now owns 666,405 shares of the financial services provider's stock worth $8,563,000 after purchasing an additional 3,900 shares during the period. Finally, Bank of America Corp DE increased its position in Western Asset Investment Grade Income Fund by 35.3% in 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 owned by institutional investors.

Western Asset Investment Grade Income Fund Trading Up 0.1%

Shares of PAI stock opened at $12.72 on Friday. The stock has a 50-day moving average price of $12.75 and a 200 day moving average price of $12.57. Western Asset Investment Grade Income Fund Inc. has a 12 month low of $11.41 and a 12 month high of $13.66.

Western Asset Investment Grade Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 20th will be given a $0.0525 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, November 20th.

Western Asset Investment Grade Income Fund Profile

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.

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