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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) declared a monthly dividend on Wednesday, February 19th, NASDAQ Dividends reports. Shareholders of record on Monday, March 24th will be given a dividend of 0.0525 per share by the financial services provider on Tuesday, April 1st. This represents a $0.63 annualized dividend 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 by an average of 2.9% per year over the last three years.

Western Asset Investment Grade Income Fund Stock Up 1.1 %

Shares of NYSE:PAI opened at $12.85 on Friday. The business has a 50-day moving average of $12.57 and a two-hundred day moving average of $12.62. Western Asset Investment Grade Income Fund has a fifty-two week low of $11.65 and a fifty-two week high of $13.18.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

An institutional investor recently raised its position in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE lifted its position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% in the fourth quarter, according to its most recent Form 13F filing 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 about 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent filing with the Securities and Exchange Commission. 18.99% of the stock is 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.