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

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) declared a monthly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Thursday, May 22nd will be given 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 dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, May 22nd.

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

Western Asset Investment Grade Income Fund Stock Up 0.4 %

PAI stock opened at $12.69 on Friday. The company has a fifty day moving average price of $12.48 and a 200-day moving average price of $12.59. Western Asset Investment Grade Income Fund has a 52-week low of $11.65 and a 52-week high of $13.18.

Hedge Funds 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 shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period. Institutional investors own 18.99% of the company’s stock.

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.