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

Key Points

• Western Asset Investment Grade Income Fund Inc. has declared a monthly dividend of $0.0525 per share, with the ex-dividend date set for September 23rd.
• Shareholders will receive the dividend payout on October 1st, reflecting an annualized yield of 4.9%.
• The fund primarily invests in investment grade debt, including government securities and bank debt, within the U.S. fixed income markets.

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI - Get Free Report) announced a monthly dividend on Thursday, September 11th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of 0.0525 per share by the financial services provider on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 23rd.

Western Asset Investment Grade Income Fund Stock Performance

Shares of NYSE PAI traded down $0.00 during midday trading on Wednesday, reaching $12.93. 4,305 shares of the stock were exchanged, compared to its average volume of 15,679. Western Asset Investment Grade Income Fund has a 52-week low of $11.41 and a 52-week high of $13.66. The stock has a 50 day moving average price of $12.75 and a 200-day moving average price of $12.56.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in Western Asset Investment Grade Income Fund by 35.3% during the fourth quarter. Bank of America Corp DE now owns 8,694 shares of the financial services provider's stock worth $109,000 after buying an additional 2,267 shares during the period. 1607 Capital Partners LLC raised its holdings in shares of Western Asset Investment Grade Income Fund by 0.6% during 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. Aviance Capital Partners LLC raised its holdings in shares of Western Asset Investment Grade Income Fund by 18.4% during the second quarter. Aviance Capital Partners LLC now owns 34,551 shares of the financial services provider's stock worth $448,000 after purchasing an additional 5,368 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Western Asset Investment Grade Income Fund during the second quarter worth $143,000. Finally, Shaker Financial Services LLC bought a new position in shares of Western Asset Investment Grade Income Fund during the second quarter worth about $145,000. 18.99% of the stock is currently owned by hedge funds and other institutional investors.

About Western Asset Investment Grade Income Fund

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.