Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) announced a monthly dividend on Monday, May 19th, Wall Street Journal reports. Investors of record on Friday, August 22nd will be paid a dividend of 0.0525 per share by the financial services provider on Tuesday, September 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Friday, August 22nd.
Western Asset Investment Grade Income Fund has raised its dividend by an average of 2.9% per year over the last three years.
Western Asset Investment Grade Income Fund Stock Down 0.2%
Shares of NYSE:PAI traded down $0.02 during trading on Friday, hitting $12.33. 13,142 shares of the company were exchanged, compared to its average volume of 16,416. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.41 and a fifty-two week high of $13.18. The firm has a fifty day moving average price of $12.35 and a two-hundred day moving average price of $12.48.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE lifted its holdings in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Free Report) by 35.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,694 shares of the financial services provider's stock after acquiring 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 SEC filing. Hedge funds and other institutional investors own 18.99% of the company's stock.
Western Asset Investment Grade Income Fund Company Profile
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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.
Further Reading
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