Western Asset Investment Grade Income Fund Inc. $PAI Stock Purchased by Uhlmann Price Securities LLC

Key Points

• Uhlmann Price Securities increased its PAI holdings by 530% in the third quarter, adding 93,235 shares to own 110,826 shares, worth about $1.27 million.
• Other institutional investors also established or expanded positions; hedge funds and institutions collectively owned 18.99% of PAI.
• PAI declared a monthly dividend of $0.0525 per share, equivalent to $0.63 annually and a stated 5.5% yield.

Uhlmann Price Securities LLC increased its holdings in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 530.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,826 shares of the financial services provider's stock after buying an additional 93,235 shares during the quarter. Uhlmann Price Securities LLC owned 1.17% of Western Asset Investment Grade Income Fund worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PAI. Kestra Advisory Services LLC acquired a new stake in Western Asset Investment Grade Income Fund in the third quarter worth about $992,000. Waverly Advisors LLC purchased a new stake in shares of Western Asset Investment Grade Income Fund during the second quarter worth about $269,000. Bank of America Corp DE purchased a new stake in shares of Western Asset Investment Grade Income Fund during the second quarter worth about $240,000. Susquehanna International Group LLP increased 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 valued at $153,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Western Asset Investment Grade Income Fund during the first quarter valued at about $30,000. 18.99% of the stock is owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Stock Up 0.2%

Shares of Western Asset Investment Grade Income Fund stock opened at $11.52 on Friday. The company has a 50 day moving average price of $11.53 and a 200 day moving average price of $12.04. Western Asset Investment Grade Income Fund Inc. has a 52 week low of $11.24 and a 52 week high of $12.95.

Western Asset Investment Grade Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.0525 per share. The ex-dividend date is Friday, November 20th. This represents a $0.63 dividend on an annualized basis and a yield of 5.5%.

Western Asset Investment Grade Income Fund Company Profile

Western Asset Investment Grade Income Fund NYSE: PAI is a diversified, closed-end management investment company. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in investment-grade fixed-income securities.

Its portfolio may include corporate bonds, U.S. government and agency securities, mortgage-backed securities, asset-backed securities, and other debt instruments. The fund may also invest in securities issued by entities outside the United States, providing exposure to global fixed-income markets while maintaining an emphasis on higher-quality credit.

PAI is managed by Western Asset Management Company, a global fixed-income investment manager and an affiliate of Franklin Resources.

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