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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) announced a monthly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Thursday, May 22nd will be paid a dividend of 0.0525 per share by the financial services provider on Monday, June 2nd. This represents a $0.63 annualized dividend and a yield of 4.98%. The ex-dividend date is Thursday, May 22nd.

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

Western Asset Investment Grade Income Fund Stock Up 0.5 %

Shares of PAI stock opened at $12.66 on Friday. The stock has a 50 day simple moving average of $12.48 and a 200-day simple moving average of $12.59. Western Asset Investment Grade Income Fund has a 1-year low of $11.65 and a 1-year high of $13.18.

Institutional Trading of 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 lifted its position in Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,694 shares of the financial services provider’s stock after acquiring an additional 2,267 shares during the period. Bank of America Corp DE owned 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 18.99% of the company’s stock.

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.