Western Asset Investment Grade Income Fund Inc. (PAI) to Issue Monthly Dividend of $0.05 on June 2nd

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) declared 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 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Thursday, May 22nd.

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

Western Asset Investment Grade Income Fund Trading Down 2.4%

Shares of PAI stock opened at $12.31 on Tuesday. Western Asset Investment Grade Income Fund has a 12 month low of $11.41 and a 12 month high of $13.18. The company’s fifty day moving average price is $12.37 and its two-hundred day moving average price is $12.49.

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 grew its stake 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 13F filing with the SEC. The institutional investor owned 8,694 shares of the financial services provider’s stock after purchasing an additional 2,267 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Western Asset Investment Grade Income Fund worth $109,000 as of its most recent filing with the SEC. 18.99% of the stock is 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.