Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) declared a monthly dividend on Monday, May 19th, Wall Street Journal reports. Shareholders of record on Friday, August 22nd will be given a dividend of 0.0525 per share by the financial services provider on Tuesday, September 2nd. This represents a $0.63 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Friday, August 22nd.
Western Asset Investment Grade Income Fund has raised its dividend payment by an average of 2.9% annually over the last three years.
Western Asset Investment Grade Income Fund Trading Up 0.2%
Shares of NYSE:PAI traded up $0.03 during trading on Thursday, hitting $12.40. 21,292 shares of the company's stock traded hands, compared to its average volume of 16,446. Western Asset Investment Grade Income Fund has a 52 week low of $11.41 and a 52 week high of $13.18. The company has a 50-day moving average price of $12.36 and a 200-day moving average price of $12.49.
Institutional Investors Weigh In On Western Asset Investment Grade Income Fund
A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE boosted its position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,694 shares of the financial services provider's stock after buying an additional 2,267 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent filing with the SEC. 18.99% of the stock is owned by hedge funds and other institutional investors.
About Western Asset Investment Grade Income Fund
(
Get Free Report)
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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