Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) to Issue $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 given 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 increased its dividend by an average of 2.9% annually over the last three years.

Western Asset Investment Grade Income Fund Trading Up 1.1 %

Western Asset Investment Grade Income Fund stock opened at $12.85 on Friday. The firm’s fifty day moving average is $12.57 and its 200 day moving average is $12.62. Western Asset Investment Grade Income Fund has a 12-month low of $11.65 and a 12-month high of $13.18.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Western Asset Investment Grade Income Fund stock. Bank of America Corp DE raised its stake in shares of Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent SEC filing. 18.99% of the stock is currently owned by institutional investors and hedge funds.

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.