Western Asset Investment Grade Income Fund Inc. Announces Monthly Dividend of $0.05 (NYSE:PAI)

Key Points

• Western Asset Investment Grade Income Fund Inc. has declared a monthly dividend of $0.0525 per share, to be paid on November 3rd to stockholders of record on October 24th, resulting in an annualized dividend yield of 4.9%.
• The fund's stock, trading under the ticker PAI, has shown a performance range between a twelve month low of $11.41 and a high of $13.66, with a current opening price of $12.77.
• Recent activity reveals several institutional investors have increased their holdings, with 18.99% of the stock owned by these investors and hedge funds.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) declared a monthly dividend on Thursday, September 11th. Investors of record on Friday, October 24th will be paid a dividend of 0.0525 per share by the financial services provider on Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, October 24th.

Western Asset Investment Grade Income Fund Stock Performance

NYSE:PAI traded down $0.00 during trading hours on Wednesday, hitting $12.93. The company's stock had a trading volume of 4,305 shares, compared to its average volume of 15,679. The stock has a fifty day simple moving average of $12.75 and a 200-day simple moving average of $12.56. Western Asset Investment Grade Income Fund has a twelve month low of $11.41 and a twelve month high of $13.66.

Institutional Trading of Western Asset Investment Grade Income Fund

Large investors have recently bought and sold shares of the business. SeaBridge Investment Advisors LLC boosted its stake in shares of Western Asset Investment Grade Income Fund by 75.2% during the first quarter. SeaBridge Investment Advisors LLC now owns 254,432 shares of the financial services provider's stock valued at $3,269,000 after purchasing an additional 109,201 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Western Asset Investment Grade Income Fund by 19.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 255,783 shares of the financial services provider's stock valued at $3,287,000 after buying an additional 41,463 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Western Asset Investment Grade Income Fund by 85.4% during the 2nd quarter. Baird Financial Group Inc. now owns 31,782 shares of the financial services provider's stock valued at $413,000 after buying an additional 14,644 shares during the last quarter. Martin Capital Partners LLC lifted its position in shares of Western Asset Investment Grade Income Fund by 97.3% during the 2nd quarter. Martin Capital Partners LLC now owns 22,750 shares of the financial services provider's stock valued at $295,000 after buying an additional 11,219 shares during the last quarter. Finally, Shaker Financial Services LLC purchased a new position in shares of Western Asset Investment Grade Income Fund during the 2nd quarter valued at $145,000. 18.99% of the stock is owned by institutional investors and hedge funds.

Western Asset Investment Grade Income Fund Company 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.