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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) announced a monthly dividend on Wednesday, February 19th, NASDAQ Dividends reports. Shareholders of record on Monday, March 24th will be paid a dividend of 0.0525 per share by the financial services provider on Tuesday, April 1st. This represents a $0.63 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Monday, March 24th.

Western Asset Investment Grade Income Fund has raised its dividend payment by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Stock Performance

PAI stock opened at $12.85 on Friday. Western Asset Investment Grade Income Fund has a 1 year low of $11.65 and a 1 year high of $13.18. The stock’s fifty day moving average price is $12.57 and its 200-day moving average price is $12.62.

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 increased its holdings in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 0.09% of Western Asset Investment Grade Income Fund worth $109,000 at the end of the most recent reporting period. 18.99% of the stock is currently owned by institutional investors.

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.